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India VIX is a volatility index based on the Nifty index option prices. From the best bid-ask prices of Nifty Options contracts, a volatility percentage figure is calculated, which reflects the likely stock market volatility over the next 30 calendar days.
Nifty options radar suggests a Bull Call spread during election uncertainty. Trading within 22,700 - 22,400 range. Shrey Jain recommends a strategy with max loss at Rs 826 and potential profit up to Rs 4,174. Positive trend indicated by MACD Index and MA levels.
The options data indicated that the Nifty may gradually inch towards 22,000 mark in coming sessions, with support at 21,500-21,600 levels.
Shifting focus to options, the Open Interest (OI) distribution for Bank Nifty Put options highlights the highest concentration at the 45,500 level, likely serving as a significant support level for the current expiry.
The markets remained flattish for the past five trading days despite continued rally in the US."The markers are struggling to break the 21,000-mark on the Nifty and we are seeing some consolidation," said Jaykrishna Gandhi, Head of ...