09 February 2011

Derivative Report-Angel Broking, India Research Feb 09, 2011

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 The Nifty futures’ open interest increased by 4.32% while
Minifty futures’ open interest increased by 10.15% as
market closed at 5312.55 levels.
 The Nifty Feb future closed at a premium of 1.90 points,
against a discount of 1.95 points in the last trading
session. On the other hand, March future closed at a
premium of 19.45 points.
 The PCR-OI has decreased from 1.15 to 1.09 levels.
 The Implied volatility of At-the-money options for Feb
expiry remained at same levels of 21.00%.
 The total OI of the market is `1,41,382cr and the stock
futures OI is `32,637cr.
 Few liquid counters where cost of carry is positive are
BEML, BALRAMCHIN, STERLINBIO, COREPROTEC, and
SKUMARSYNF.
View
 FIIs formed short positions in the Index futures.
However, they formed some long positions in the
stock futures. They were net sellers of `727cr in the
cash market segment.
 Yesterday, significant buildup has taken place in the
5300 and 5400 call options and unwinding in the
5400 to 5500 put options.
 In the last trading session, shorting was observed in
ANDHRABANK. CoC also turned to negative. We
may see further correction in the stock up to `130.
Traders can trade with negative bias with a stop loss
of `142.
 In the past few trading sessions, BHEL is
consolidating around its strong support of `2,150.
The stock is showing some strength. We may see a
positive move up to `2,230. Positional trades can
trade with positive bias around support with a stop
loss of `2,110.
 Day traders can trade with negative bias in
PETRONET for the target of `121 with a stop loss of
`127.50.

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