Since it is the beginning of the new series, options data is scattered at various far-strike prices. On the weekly options front, the maximum Call OI is placed at 23,000 and then towards 22,500 strikes while the maximum Put OI is placed at 22,000 and then towards 22200 strikes.
The Nifty PCR is currently at 1.18. Meaningful call writing is witnessed across 22400-22500 strikes, while put writing was witnessed in 22200-22000 strikes.
Nooresh Merani provides insights on stock picks, targeting Indian Hotels at Rs 620 and Hindalco at Rs 600-620. He says: "It is tough to take the expiry call tomorrow, but the bias is positive. Overall, the broader markets have done better over the last two-three sessions and that makes the bias all the more positive."
In the cash market, both FIIs and DIIs bought to the tune of Rs 10.13 crore and Rs 5024.36 cr on Tuesday. FIIs long short ratio for index futures is at 33.02 as on a net basis, they sold 3025 index futures.
On the options front, the maximum Call OI is placed at 23000 and then towards 22,500 strikes while the maximum Put OI is placed at 22,000 and then towards 2,1800 strikes.