Derivative Data Suggests 9,600 On Nifty; 5 Stocks Which Can Give Up To 14% Upside

The Nifty closed above 9,500 levels. What is next? Derivative data indicates a higher probability of Nifty heading towards 9,600 in the current series. The current upmove is supported by derivative data and position build-up.

The Nifty has been continuously adding open interest with every up move. On Tuesday, it had added nearly 6.28 lakhs in open interest. Option writers are aggressively selling puts on every rise.

Huge open interest addition was observed in at the money and in the money puts strikes which indicate upside momentum to continue in the expiry week.

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