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The Nifty futures’ open interest decreased by 0.98% while
Minifty futures’ open interest increased by 13.65% as
market closed at 6079.80 levels.
The Nifty Jan future closed at a premium 24.40 of
points, against a premium of 13.75 points in the last
trading session. On the other hand, Feb future closed at
a premium 51.15 of points.
The PCR-OI has decreased from 1.37 to 1.31 levels.
The Implied volatility of At-the-money options for Jan
expiry increased from 15.50% to 16.00%.
The total OI of the market is `1,20,534cr and the stock
futures OI is `38,039 cr.
Few liquid counters where cost of carry is positive are
STERLINBIO, NHPC, PANTALOONR, HINDOILEXP,
GVKPIL.
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FIIs were continuously buying in the cash market
segment. Yesterday, they were net sellers of `240cr,
which is not significant. They unwound some of their
long positions in the Index futures.
Nifty has support around 6020-6050 levels. Market
correction was mainly due to long unwinding. We
don’t expect significant correction. Negative move
around support levels can be used to form long
positions.
Significant short positions are standing in Banknifty.
Yesterday, we saw some unwinding in this space.
Participants who have short positions might be
covering their positions at lower levels. Thus, avoid
forming fresh short positions.
Though the market was weak, JPASSOCIATE was
showing some strength and consolidating in a very
narrow range in the past few trading sessions. We
expect a positive move in the stock up to `118.
Traders can form long positi0ons with a stop loss of
`103.
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