Nifty options suggest more downside in near term: traders
Option traders say the Nifty may fall further, extending three sessions of losses after hitting a record high earlier in the week, as the 6,200 December put option is losing outstanding positions.
The 6,200 December put option saw a reduction of 43,850 shares in outstanding positions as of 11:05 a.m., Thomson Reuters data shows.
Traders add upside might also be capped at 6,300 for December derivative series which ends on December 26, as highest open interest in call options is now held at 6,300 strike price compared with 6,500 earlier.
The 6,300 December call option on the Nifty added 1.15 million shares in outstanding positions on Thursday, NSE data shows, while 6,500 December call shed 118,700 shares.
Copyright: Thomson Reuters 2013
