Apr 18, 2011: Angel Broking, Derivative Report India Research

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Comments
 The Nifty futures’ open interest decreased by 2.01% while
Minifty futures’ open interest decreased by 10.96% as
market closed at 5824.55 levels.
 The Nifty April future closed at a premium of 9.60 points,
against a premium of 26.60 points in the last trading
session. On the other hand, May future closed at a
premium of 31.50 points.
 The PCR-OI decreased from 1.47 to 1.30 levels.
 The Implied volatility of At-the-money options increased
from 17.00% to 17.60%.
 The total OI of the market is `1,38,476cr and the stock
futures OI is `35,197cr.
 Few liquid stocks where Cost of carry is positive are
ALOKTEXT, BAJAJHLDNG, ISPATIND, RUCHISOYA and
ANDHRABANK.
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 FIIs formed short positions in the Index futures and
the stock futures. They were net sellers of `253cr in
the cash market segment.
 In the last trading session, significant unwinding was
observed in the 5800 to 6000 put options and build
up was observed in the 5800 and 5900 call options.
 After a good positive move in JPASSOCIAT,
unwinding was observed in the last trading session.
Due to profit booking, we may see some correction in
the stock up to `94. Traders can trade with negative
bias with a stop loss of `103.
 We may see a small positive move in ABAN as some
long formations have been observed in the stock.
Traders can trade with positive bias for the target of
`720. Keep a stop loss of `687.