The upcoming week can be approached with a low-risk strategy like modified Put Butterfly in Nifty.
Shubham Agarwal
February 13, 2023 / 06:51 AM IST
The Nifty closed the week ended February 10 around 17,870, roughly flat. The index gyrated between 17,974 and 17,703 during the week. On the OI (open interest) front, marginal short built-up was seen in Nifty Jan Futures over the week gone by as there was an increase in OI, with a marginal drop in the Nifty weekly closing basis.
On the other hand, Bank Nifty Jan Futures gained about 0.02 percent as it closed the week around 41,645. Bank Nifty futures gyrated between 41,921 and 41,242 in the last week. Overall, the index ended the week with marginal gain.
Further diving into the Nifty upcoming weekly expiry, Nifty immediate resistance stands at 18,000 levels where nearly 67.16 lakh shares is the open interest followed by vital resistance at 18,500 levels where about 49.75 lakh shares is the open interest.
On the lower side, immediate support level is at 17800 where nearly 68.85 lakh shares is the PE options open interest followed by 17,500 where nearly 33.46 lakh shares is the PE options open interest.
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