Heavy foreign buying in options points to big move

Tags: Stock Market
Overseas investors bought Indian equity derivatives worth 41.22 billion rupees ($677.4 million) on Tuesday, NSE data shows.

The amount included 28.53 billion rupees worth of index options.

"This kind of buying in Nifty options happened in March and April and is pointing towards a big move on the long side even from record highs," says a derivatives analyst at a foreign broker.

Data shows 2 million August put contracts added for NSE at 7,900 level.

Concentration of put contracts has also shifted from 7,600 to 7,700 for the August series, implying a support around 7,700 levels.

Data also shows 1.4 million call contracts added at 8,000 level and 0.9 million for 8,100 August strike.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Neither secular nor socialist, India at 66 is back where it began

    The republic has entered its 66th year but the nation is more than just another year older.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Kumar Jain

Building great cities (and nations)

Fifteen to twenty years’ span is the time when humans ...

Kuruvilla Pandikattu SJ

Defining success differently

Researchers spent four decades studying a group of mathematically talented ...

Shona Adhikari

All roads lead to Delhi, as it gears up for art fair

With the seventh edition of India Art Fair (IAF) coming ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture