Nifty 50: Option Sellers Rejoiced Choppy Market Conditions

Nifty 50: Option Sellers Rejoiced Choppy Market Conditions

The Nifty 50 Index opened with a gap up at 17566 with 44 points and almost closed flat at 17,534 on Wednesday, August 10, 2022. The nearest support and resistance in the next trading session will be 17,400 and 17,700 respectively. 

The Nifty 50 Index is maintaining crucial support at 17,500 and we can see good put writing at the same. The leading sectors were Nifty Metal (1.62%) and Nifty Private Bank (0.54%).

Nifty 50 Performance

To know better about the market you can check the video provided above that contains Nifty 50 option chain analysis data.

nifty50-index-data
Nifty50 Index Data

Top Gainers And Losers Today

The top Indian stocks that saw a bullish performance as per NSE are:

SL. NO.
STOCKS
LTP (INR)
%CHNG
1
Hindalco Industries Limited (NSE: HINDALCO)
440.10
4.44
2
Coal India Limited (NSE: COALINDIA)
219.80
2.04
3
Ultratech Cement Limited (NSE: ULTRACEMCO)
764
1.98
4
Tata Steel Limited (NSE: TATASTEEL)
109.20
1.87
5
Apollo Hospitals Enterprise Limited (NSE: APOLLOHOSP)
4,508
1.82

The Indian stocks that saw a bearish performance along with the Nifty 50 index are:

SL. NO.
STOCKS
LTP (INR)
%CHNG
1
Bajaj Finance Limited (NSE: BAJFINANCE)
7,151.60
-2.60
2
Oil & Natural Gas Corporation Limited (NSE: ONGC)
133.90
-1.90
3
HCL Technologies Limited (NSE: HCLTECH)
952
-1.45
4
Adani Ports And Special Economic Zone Limited (NSE: ADANIPORTS)
790.50
-1.39
5
Asian Paints Limited (NSE: ASIANPAINT)
3,413
-1.31

Ever since last week, the Nifty 50 had been witnessing a volatile market condition and today it was very choppy. Nevertheless, it was suitable for the option sellers. A big move is going to happen on either side in the coming trading sessions where it is anticipated that the move will come upside. The market is taking resistance at a higher level. Today’s data analysis states that the Put does not have a complete control over the Nifty50 market. If the market starts trading below today’s low, it might break 17,400. However, there is a maximum chance of the market to be volatile and sideways.

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Sahil Patil

Investing decisions should be precise and correct as that involves huge sums of money. So if you have to consider a good investment advisor, then you can surely count on Sahil Patel. He has been in the investing business for the last 5 years and will surely help you in your investment decisions.

2 Comments

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