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The Nifty futures’ open interest increased by 1.47% while
Minifty futures’ open interest increased by 3.99% as
market closed at 6157.60 levels.
The Nifty Jan future closed at a premium 24.75 of
points, against a premium of 28.05 points in the last
trading session. On the other hand, Feb future closed at
a premium 50.10 of points.
The PCR-OI has remained at same levels of 1.41.
The Implied volatility of At-the-money options for Jan
expiry decreased from 15.00% to 14.50%.
The total OI of the market is `1,13,733cr and the stock
futures OI is `37,579cr.
Few liquid counters where cost of carry is positive are
CHAMBALFERT, FSL, 3IINFOTECH, GTL, and ESSAROIL.
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FII’s buying in cash segment continues as they
bought Rs. 341crores. As low IV’s prevails, they
have also been buying index options. However
index futures activity is slightly subdued by them.
Market is trading in narrow intraday range with
positive bias and hence activity is quite stock
specific. Though 6200-6250 is slight resistance
zone we suggest not forming short positions as of
now.
VIDEOIND has seen decent rolling over of short
positions. Stock has consolidated in the range of
210-220 in last two weeks and now witnessing
addition of long positions. We expect short covering
in it. Go long with stop loss of 211 and target of
236.
Since last two trading sessions EDUCOMP is seeing
cash base buying as well as formation of long
positions. 525-530 was acting as strong resistance
and counter has managed to breach it. Further
formation of long along with short covering can
take stock to 581 levels. Keep a stop loss of 527.
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