Weekly F&O expiry: Nifty 50, Bank Nifty may end in green; charts, outlook, trade guide

Sensex, Nifty end with gains on weekly expiry session; here’s what experts make of today’s trade

Sensex and Nifty regained positive momentum on Thursday and closed the weekly expiry session in the positive territory.

It is likely that both the indices may settle in green on expiry day, technical analysts say citing chart indicators

On the weekly options expiry day, the wider trading range for NSE Nifty 50 index is 15,700-15,800; and for Bank Nifty index is 34,800-35,000. Both Nifty 50 and Bank Nifty indices opened positive on Thursday. It is likely that both the indices may settle in green on expiry day, technical analysts say citing chart indicators. On a weekly basis, Nifty index is up 0.21 per cent, while Bank Nifty is down nearly 2 per cent. Nifty began the day with maximum PUT OI at 15,700 and Call OI at 15,800 strike. Similarly, Bank Nifty index started trading higher at 34,903.60 on Thursday, over the last close.

NSE Nifty 50 index 10 June 2021 weekly expiry trade setup

So far in intraday, Nifty hit a high of 15,741.25. Per the options data, Nifty support lies in the range of 15,700-15,600, while the 15,750-15,800 zone is resistance, as of 12.15 pm, Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services, said. The maximum Call OI was placed at 15,800 strike and maximum PUT OI was seen at 15,700 strike. In the previous session, despite touching its new high levels, bears took over the market and Nifty settled with a loss of around 100 points on Wednesday.

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Image: Gemstone Research

“Nifty formed a strong Bearish candle on daily scale as it engulfed the price recovery of the last four sessions and negated its formation of higher lows of the last four trading sessions,” Motilal Oswal Financial Services said in the expiry day report. It added that now Nifty has to cross and hold above 15,600 zones to witness an up move towards 15,750 and fresh lifetime high of 15,800 zones while on the downside support exists at 15,550 and 15,400 zones.

Bank Nifty 10 June 2021 weekly expiry trade setup

Bank Nifty started trading with PUT OI at 34,500 and Call OI at 35,000 strike. Bank Nifty touched a day’s high of 34,961.40 so far in the session. Bank Nifty’s support was seen at 34,500-34,800, while resistance was at 35,000-34,900. Therefore, the likely trading range for today is 34,800-35,000, according to Milan Vaishnav.

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Image: Gemstone Research

Bank Nifty next week 17 June 2021 expiry trade guide

Today the maximum Call OI was seen at 35,000 strike and PUT OI at 34,500 strike. Axis Securities has a moderately bearish view on the Bank Nifty index for the next week. For 17 June 2021 weekly expiry, Axis Securities said: “Traders could initiate this spread strategy to make modest returns with limited risk and reward. The spread suggested consists of buying one lot of 34,800 strike PUT option and simultaneously selling one lot of 34,300 strike PUT option.”


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