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The Nifty futures’ open interest increased by 0.99% while
Minifty futures’ open interest increased by 12.37% as
market closed at 6048.25 levels.
The Nifty Jan future closed at a premium of 24.00
points, against a premium of 24.40 points in the last
trading session. On the other hand, Feb future closed at
a premium of 50.50 points.
The PCR-OI has decreased from 1.31 to 1.24 levels.
The Implied volatility of At-the-money options for Jan
expiry remained at the same levels of 16.00%.
The total OI of the market is `1,25,912cr and the stock
futures OI is `38,160 cr.
Few liquid counters where cost of carry is positive are
OPTOCIRCUI, PANTALOONR, FORTIS, POLARIS, and
ESCORTS.
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FIIs continued shorting Stock futures. We have
observed significant shorting in BAJAJ-AUTO and
SBIN. Due to FIIs selling, these stocks may correct
further. Thus, avoid bottom fishing in these counters.
Yesterday, significant build up was observed in the
6100 and 6200 call options and 5900 put option.
FIIs’ option data is suggesting they are buying some
call options.
ITC has given a positive move mainly due to short
covering. Stock has strong resistance around
180-181 levels and not showing much strength. We
may see a negative move in the stock up to
`170-`172. Positional traders can form short
positions with a stop loss of `184.
ONGC has some short positions and it has strong
support zone of `1,200-`1,220. Short covering may
pull-up the stock up to `1,290. Traders can use buy
on dips strategy with a stop loss of `1,170.
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