Bank Nifty slips ahead of weekly expiry
DSIJ Intelligence / 10 Aug 2017
Bank Nifty continued to go downward during the morning hour on Thursday. The index was trading at the 24,235 level, down by 139 points ahead of its weekly expiry of derivative contracts as of 1031 hours.
Bank Nifty continued to go downward during the morning hour on Thursday. The index was trading at the 24,235 level, down by 139 points ahead of its weekly expiry of derivative contracts as of 1031 hours. The index has breached its crucial support of 24,250 levels. The next immediate support is to be placed at the 23,900 levels.
The index witnessed gap-down opening at the 24,300 level, down by 74 points. Federal Bank was the top loser in the index, trading at Rs 106.1 per share, down by 2.03%. Canara Bank, PNB, ICICI Bank and IndusInd Bank were also among the top losers, down by over 1% in the morning hour.
On the options front, Bank Nifty 10-Aug 24,400 CE witnessed maximum addition of contracts in its open interest. It added 12,48,800 shares in its open positions and there is selling pressure seen at this strike price. On the put side, open interest is not concentrated at any specific strike price.
Bank Nifty futures of August series was trading at a premium of 87 points. It had closed at a premium of 99 points in the previous trading session.
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