Nifty today: F&O: Dabur, Airtel, Sun Pharma, HDFC see major shorts buildup

Nifty has to hold above 11,400-11,420 zone to extend gains towards 11,550 level.


Mar 27, 2019, 05.41 PM IST

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The option band signified a narrow trading range between 11,400 and 11,550 levels.
By Chandan Taparia

Now it has to hold above the 11,400-11,420 zone to extend the gains towards 11,550 and then 11,650 levels, while on the downside, support is seen in the 11,350-11,333 zone.

On the options front, maximum Put open interest was at 11,000 followed by 11,400 level while maximum Call OI was at 11,600 followed by 11,500. Meaningful Call writing was seen at strike price 11,600 followed by 11,550 while Put unwinding was seen at all immediate strike prices with minor Put writing at 11,350.

The option band signified a narrow trading range between 11,400 and 11,550 levels. India VIX moved up 3.44 per cent to 17.04 level.

Bank Nifty opened with a gap up and made an new lifetime high of 30,262 but witnessed profit booking at higher levels and drifted sharply towards the 29,800 mark.

It formed a Doji candle on the daily scale as it closed near the opening mark, but managed to hold above 29,888 level. As long as it holds above 29,888, it would extend its gains towards 30,250 then 305,00 zones, while crucial support is seen at 29,500 level on the downside.

Nifty futures closed in the negative at 11,449 level with a loss of 0.53 per cent. Long buildup was seen in Equitas, M&M Financial, Bharat Fin, Nestle India and Shriram Transport while shorts were seen in Dabur, Bharti Airtel, Sun Pharma and HDFC.

(Chandan Taparia is Technical & Derivative Analyst at MOFSL. Investors are advised to consult financial advisers before taking an investment calls based on these observations)

(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of


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Author: Prakash Poojary

Business Analyst

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