This week is expiry for derivative markets with dried up volatility and Nifty spot managed to close above 7900 on weekly basis for the very first time .India’s Q2 GDP data and Fiscal Deficit data(Macro Economic data) scheduled during this week on August 29. So far FII’s had more close to Rs 98,802 crore this year in bond market compared to Rs 76,705 crore in equity market.
Nifty and Bank Nifty on the hourly charts maintains the positional buy mode with the support zone coming around 7788.5 and 15445.5 respectively reverse the position to positional sell mode if the support zone breaks on the hourly charts.
India VIX Hourly Charts
India VIX maintains the prolong sell mode and staying below the sub 14 level. Currently the resistance zone comes near 15.744 reverse your position to positional buy mode if it breaks on the hourly charts.
Nifty Open Interest Lookup
Since last week 8000CE writers started dominating the open interest built up and holds the highest open interest across the strike prices.