Derivative Report India Research June 06, 2011: Angel Broking

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Comments
 The Nifty futures’ open interest increased by 2.14% while
Minifty futures’ open interest increased by 1.29% as
market closed at 5516.75 levels.
 The Nifty June future closed at a premium of 6.75 points,
against a premium of 8.10 points in the last trading
session, while the July future closed at a premium of
17.25 points.
 The Implied Volatility of at the money options decreased
from 16.00% to 15.75%.
 The PCR-OI decreased from 1.39 points to 1.31 points.
 The total OI of the market is `1,20,301cr and the stock
futures OI is `32,254cr.
 Few liquid stocks where CoC is positive are TV-18,
GTLINFRA, ABIRLANUVO, NAGARFERT and MTNL.
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 Although the market was showing correction FIIs’
selling was not visible in the Index futures, they
formed some short positions in the stock futures. They
were net buyers of `445cr in the cash market
segment.
 In the last trading session, unwinding was observed
in the 5400 and 5500 put options and significant
build up was observed in the 5500 to 5700 call
options.
 HDFCBANK is showing some shorting from higher
levels. We may see correction in the counter up to
`2270. Traders can trade with negative bias with a
stop loss of `2290.
 3IINFOTECH is showing unwinding from higher
levels. We may see a negative move in the counter
due to profit booking. Traders can trade with
negative bias for the target of `45. Keep a stop loss
of `50.50.