Option Chain Analysis to commence trading
The options market indicates that the highest open interest on the call side is at 23000 level, while on the put side, its at 22500. Looking at today's option chain, we observe a greater amount of put writing activity compared to call writing, signaling a bullish sentiment in the market. However, one need to also see local events and USA Market as it is showing gap down of 100 points in gift Nifty and we have RBI Governor address and rate cut is unlikely. So, you cannot see data with closed eye and be in sync with global markets.
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The system suggests a trading range for the next day between 22375 and 22640. The Max Pain is seen at 22500 spot with the CE/PE Combined Residual Premium/Pain Value of 166.34 Crores.
Update on Option Chain Analysis will be shared in the Live market
