F&O: Immediate support for Nifty at 9,940

Nifty turned choppy after hitting the day’s low in the early afternoon hours. Immediate support for the 50 stocks’ index may be placed at the 9,940 level.
 
Nifty Futures of August series was trading at a premium of 18 points. It had closed with a premium of 34 points on Monday. The futures of September and October series were trading at premium of 53 and 83 points, respectively.
 
Nifty’s downward movement and weak performance can be seen from the maximum call unwinding taking place at strike prices of 10,100 followed by 10,200 and 10,000 for the August series. 
 
On the put side, short covering was seen at the strike prices of 10,100 followed by 10,000 and 9,900. The put call ratio (PCR) for Nifty’s August series stood at 1.04 in terms of volume wherein put options have a volume of 6.19 lakh shares and call options have a volume of 5.95 lakh shares. PCR greater than 1 suggests that traders are buying more put options than call options and this reflects bearish market sentiments.