Derivative Report-Angel Broking, India Research Dec 14, 2010

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Comments
 The Nifty futures’ open interest increased by 0.98%
while Minifty futures’ open interest decreased by
0.49% as market closed at 5907.65 levels.
 The Nifty Dec future closed at a premium of 25.30
points, against a premium of 22.25 points in the last
trading session, while Jan future closed at a premium
of 49.65 points.
 The PCR-OI increased from 1.13 to1.20 points.
 The Implied volatility of At-the-money options
increased from 20.00% to 21.00%.
 The total OI of the market is `1,45,762cr and the
stock futures OI is `37,896cr.
 Few liquid counters where cost of carry is positive are
GVKPIL, TV-18, SREINFRA, PATNI, and RELMEDIA.


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 FIIs again covered their short positions in the Index
futures. They were net sellers of `288cr in the cash
market segment.
 Yesterday, a considerable unwinding was observed
in the 5800 and 5900 call options. On the other
hand, build up was observed in most of the put
options.
 DIVISLAB is showing some long formations from
lower levels. Yesterday, it added around 8% open
interest. We may see a positive move in the stock
up to `648. Traders can trade with positive bias
with a stop loss of `590.
 Among banking counters, HDFCBANK is showing
good amount of build up. Traders can use buy on
dips around `2,230 (Futures) to form long positions
for the target of `2,330 with a stop loss
of `2,185.