Ahead of ICICI Bank’s quarterly numbers, Nifty Bank index turns red


In today’s trade, markets remained subdued throughout the day. Nifty ended ~0.2% lower while Nifty Bank index witnessed meaningful selloff, ending 0.75% lower.

PSU Banks remained under the selling pressure as profit booking weighed in. Nifty and Bank Nifty futures added fresh open interest to the tune of ~8.3 lakh / ~52k shares.

Despite a ~200 point correction in Nifty Bank index, no major short positions were added in index futures.

Tracking the options front, all the major OTM & ATM call and put options strikes ended marginally lower with rising open interest, as the index remained range-bound throughout the day.

Nifty Bank 02NOV2017 weekly expiry out the money call options added fresh option interest with a major drop in option premiums, indicating a limited upside potential for Nifty Bank index till 02NOV2017 expiry
Nifty:-20points @ 10323
Bank Nifty: -182 points @ 24839
Top 2 F&O Gainer: UNITED SPIRITS, ENGINEERS INDIA
Top 2 F&O Loser:BHARTI INFRATEL, IDBI BANK
Most Active Index Option Contract:
Call Option: 10500CE, O.I: ↑ ~5 lakh shares
Put Option:10300PE, O.I: ↑~ 7 lakh shares
Nifty Max O.I Strikes:10500CE, 10000PE
Bank Nifty Max O.I Strikes:25500CE, 24500PE (2nd Nov 2017 Expiry)
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