15 March 2011

Angel Broking- Derivative Report India Research on Mar 15, 2011

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Comments
 The Nifty futures’ open interest decreased by 0.47% while
Minifty futures’ open interest  increased  by 7.64% as
market closed at 5531.50 levels.
 The Nifty  March future closed at a premium of 23.80
points, against  a premium of 14.15  points  in the last
trading session. On the other hand, April future closed at
a premium of 46.05 points.
 The PCR-OI increased from 1.28 to 1.33 levels.
 The Implied volatility  of At-the-money options  is
decreased from 22.75% to 21.30%.
 The total OI of the market is `1,39,355cr and the stock
futures OI is `31,828cr.
 Few liquid stocks where cost of carry is positive are EKC,
ISPATIND, TV-18, STRTECH and GMRINFRA.



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 FIIs covered some of their short positions in the Index
futures though the small selling was visible in the
stock futures. They were net buyers of  `414cr in the
cash market segment.
 Yesterday with other put options, the 5400 and 5500
strike put added huge open interest and highest build
up was observed in the 5900 call option. However,
highest unwinding was observed in the 5400 call
option.
 TATAMOTORS is trading around its  immediate
resistance  levels  of  1,160-1,165. Also  stock is not
showing much build up which suggest  significant
upward move.  Negative  CoC  is also increasing.
Traders can trade with negative bias for the target of
`1,125-1,130. Keep a stop loss of `1,176.
 In the past few trading sessions, ROLTA has corrected
considerably. We may see a negative opening
around  138-139 levels.  Traders can use negative
opening to trade with positive bias for the target of
`149-150 with a stop loss of `134



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