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The Nifty futures’ open interest increased by 3.32% while
Minifty futures’ open interest increased by 29.20% as
market closed at 5904.60 levels.
The Nifty Jan future closed at a premium of 9.55 points,
against a premium of 24.00 points in the last trading
session. On the other hand, Feb future closed at a
premium of 38.85 points.
The PCR-OI has decreased from 1.24 to 1.03 levels.
The Implied volatility of At-the-money options for Jan
expiry has increased from 16.00% to 18.60%.
The total OI of the market is `1,34,331cr and the stock
futures OI is `37,017cr.
Few liquid counters where cost of carry is positive are
GTLINFRA, FSL, NAGARFERT, PANTALOONR, and
INDIANB
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A blend of long unwinding and some shorting was
observed in the Index futures from FIIs, also they
formed short positions in the Stock futures. They were
net sellers of `1,041cr in the cash market segment.
In the last trading session, huge build up was
witnessed in the 5900 to 6200 call options. On the
other hand, unwinding was observed in many put
options, while 5800 put added a considerable open
interest. We expect market to take support around
5800 levels. Buy on dips strategy around support can
be adopted.
After correction in UNIONBANK some buying was
observed from lower levels in the last trading session.
We may see a positive move up to `336. Positional
traders can form long positions with a stop loss of
`313.
BALRAMCHIN has given a positive move mainly due
to short covering. Again some shorting was observed
in the stock. We may see a negative move up to `80.
Traders can trade with negative bias with a stop loss
of `90.
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