F&O cues for Nifty

The Nifty derivative contracts of August series are in focus in the F&O market ahead of expiry. Nifty was trading comfortably above the 9,900 level at 9,921, up by 64 points while Sensex was trading at 31,791, up by 195 points.
 
On the futures front, Nifty futures of August series was trading at 9,934 at a premium of 13 points. It had closed at a premium of 16 points in the previous trading session. These futures contracts have shed 1.9 lakh shares in open interest.
 
On the options front, the highest call base was seen at the 10,000 strike with 59.08 lakh shares while the highest put base was seen at the 9,800 strike with 69.06 lakh shares. Unwinding was seen on a majority of the call strikes like 9,700, 9,800, 9,900 except 9,850 and 10,000. Maximum open positions were added at put strikes of 9,700, 9,800, 9,850, and 9,900 – witnessing profit booking.
 
Nifty50 has resistance placed around the level of 9,920 and the next resistance is placed around the level of 9,930. On the way downside, the level of 9,830 is an immediate support level and the next support is seen around 9,770.