Derivative Report India Research Apr 11, 2011 :: Angel Broking,

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 The Nifty futures’ open interest decreased by 4.00% while
Minifty futures’ open interest decreased by 9.02% as
market closed at 5842.00 levels.
 The Nifty April future closed at a premium of 12.90
points, against a premium of 16.30 points in the last
trading session. On the other hand, May future closed at
a premium of 30.70 points.
 The PCR-OI decreased from 1.36 to 1.32 levels.
 The Implied volatility of At-the-money options increased
from 17.00% to 17.15%.
 The total OI of the market is `1,28,280cr and the stock
futures OI is `32,619cr.
 Few liquid stocks where Cost of carry is positive are
WELCORP, TATACOMM, DENABANK, GTOFFSHORE
and PANTALOONR.



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 FIIs unwound some of their long positions in the
Index futures and formed some short positions in the
stock futures. They were net buyers of `385cr in the
cash market segment.
 In the last trading session, considerable build up was
observed in 6000 call and in 5700 put options. On
the other hand, some unwinding was observed in
5800 to 6000 put options.
 A considerable unwinding was observed in
AMBUJACEM from higher levels. CoC is also
decreasing. We may see a negative move in the stock
up to `140. Traders can trade with negative bias with
a stop loss of `155.
 Few mid cap banking counters are showing some
weakness. We may see a negative move in
BANKINDIA as with unwinding of long positions CoC
also turned negative. Trading with negative bias is
advisable for the target of `460with a stop loss of
`495.