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The Nifty futures’ open interest increased by 3.90%
while Minifty futures’ open interest decreased by
5.98% as market closed at 6117.55 levels.
The Nifty Nov future closed at a premium of 34.50
points, against a premium of 25.90 points in the last
trading session. On the other hand, Dec future closed
at a premium of 58.95 points.
The PCR-OI increased from 1.20 to 1.28 points.
The Implied volatility of At-the-money options
decreased from 20.00% to 19.70%.
The total OI of the market is `1,42,252cr and the
stock futures OI is `46,533cr.
Few liquid counters where cost of carry is positive are
EXIDEIND, BALRAMCHIN, TTML, PATELENG and
AUROPHARMA.
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FIIs have formed some long positions in the index
futures. They were net buyers of `712cr in the cash
market segment.
Yesterday, many put options witnessed substantial
build up, while unwinding was observed in the
6100 call and build up was observed in the 6400
call. FIIs’ data is suggesting they started forming
hedge for their long positions while buying put
options.
EXIDEIND has corrected from higher levels due to
short formations and is showing some support
around current levels. We expect positive move due
to short coveting in it. Therefore, it is advisable to
form long around `158 for the target of `168 with
a stop loss of `154.
A blend of long unwinding and some shorting was
observed in KOTAKBANK. Stock is showing some
long build up. Thus, positional traders can trade
with positive bias for the target of `500 with a stop
loss of `457.
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