The Nifty futures’ open interest decreased by 0.59%
while Minifty futures’ open interest decreased by
0.79% as market closed at 6135.85 levels.
The Nifty Oct future closed at a premium of 23.90
points, against a premium of 30.00 points in the last
trading session. On the other hand, Nov future closed
at a premium of 42.30 points.
The PCR-OI remained same at 1.30 points.
The Implied volatility of At-the-money options
decreased from 18.00% to 17.75%.
The total OI of the market is Rs1,66,413cr and the
stock futures OI is Rs49,862cr.
Few liquid counters where cost of carry is positive are
MCLEODRUSS, PRAJIND, GTLINFRA, ABGSHIP and
JPPOWER.
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Implied volatility is reducing and markets are
consolidating. Range may become more prominent
in coming trading sessions and 6200 may become
pivotal point. Many participants are now forming
short straddle at 6200.
Most of the rally in DLF has been due to short
covering and now we are witnessing fresh shorting
around 395-400 levels. However, downside may
restrict to 360 levels where stock has strong
support. We recommend selling 360 PA and
400 CA for the combined premium of Rs.15.
ONGC has seen huge shorting in past week or so.
We may see some short covering in this counter in
coming trading sessions. Do not go long but cover
short positions if formed earlier.
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