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The Nifty futures’ open interest decreased by 1.45%
while Minifty futures’ open interest decreased by
10.73% as market closed at 6101.50 levels.
The Nifty Oct future closed at a premium of 33.65
points, against a premium of 25.70 points in the last
trading session. On the other hand, Nov future closed
at a premium of 57.45 points.
The PCR-OI increased from 1.18 to 1.27 points.
The Implied volatility of At-the-money options
decreased from 19.50% to 18.00%.
The total OI of the market is `1,88,691cr and the
stock futures OI is `53,447cr.
Few liquid counters where cost of carry is positive are
DRREDDY, STERLINBIO, SCI, MLL and TRIVENI.
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Significant buying from FIIs was observed in the
Index futures due to short covering. They were net
buyers of Rs852cr in the cash market segment and
continued their selling in the stock futures.
Yesterday, substantial unwinding was witnessed in
most of the call options, mainly 6100call. On the
other hand, 6100 put option added 14290
contracts.
GVKPIL has significant short positions and stock has
strong support around Rs42. We may see a positive
move due to short covering. Thus, it is advisable to
form long for the target of Rs48 with a stop loss of
Rs41.
A blend of long unwinding and some shorting was
observed in HDFC from higher levels. In the past
two trading sessions stock added round 12% OI.
We may see a positive move in the stock up to
Rs735-740. Traders can trade with positive bias
with a stop loss of Rs695.
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