Apr 04, 2011 Derivative Report India Research :Angel Broking,

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Comments
 The Nifty futures’ open interest decreased by 29.93%
while Minifty futures’ open interest decreased by 29.64%
due to expiry of March series. Market closed at 5826.05
levels.
 The Nifty April future closed at a premium of 35.30
points, against a premium of 24.95 points in the last
trading session. On the other hand, May future closed at
a premium of 55.20 points.
 The PCR-OI decreased from 1.67 to 1.30 levels.
 The Implied volatility of At-the-money options decreased
from 20.25% to 18.50%.
 The total OI of the market is `1,08,445cr and the stock
futures OI is `30,428cr.
 Few liquid stocks where Cost of carry is positive are
MCLEODRUSS, LITL, GVKPIL, ALOKTEXT and HCC.
View
 FIIs formed some short positions in the Stock futures.
They were net buyers of `415cr in the cash market
segment.
 In the last trading session, significant buildup was
observed in most of the put options and in the 5800
and 5900 call options. However, unwinding was
observed in the 5800 call.
 A blend of short covering and some long formations
have been observed in CESC in the past few trading
sessions. We may see further upside in the counter
up to `332. Traders can trade with positive bias with
a stop loss of `312.
 ABB is showing some unwinding from higher levels.
We may see further correction in the stock up to
`740. Traders can trade with negative bias around
`782-785 with a stop loss of `805.