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The Nifty futures’ open interest increased by 2.82%
while Minifty futures’ open interest decreased by
0.65% as market closed at 5944.10 levels.
The Nifty December futures closed at a premium of
16.20 points, against a premium of 25.30 points in
the last trading session. On the other hand, January
futures closed at a premium of 41.30 points.
The PCR-OI increased from 1.20 to1.24 points.
The Implied volatility of At-the-money options
decreased from 21.00% to 18.25%.
The total OI of the market is `1,48,815cr and the
stock futures OI is `38,748cr.
Few liquid counters where cost of carry is positive are
SUNPHARMA, STERLINBIO, APOLLOTYRE,
NAGARFERT and DISHTV.
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FIIs formed some long positions in the Index futures
while; they formed some short positions in the stock
futures.
Yesterday, again unwinding was observed in call
options and build up was observed in most of the
put options.
EDUCOMP has significant short positions and it is
trading around its strong support levels. We may
see a positive move in the stock up to `565 due to
short covering. Thus, positional traders can form
long with a stop loss of `500.
Market has its immediate resistance around 6000
levels and we do not expect a significant upward
move from there. Thus, aggressive longs are not
advisable and participants who have long positions
can book their profits around resistance.
Traders can trade with negative bias in IDFC
around `180-182 for the target of `170 with a stop
loss of `186.
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