12 November 2010

Derivative Report India Research- Angel Broking- Nov 12, 2010

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Comments
 The Nifty futures’ open interest decreased by 4.04%
while Minifty futures’ open interest decreased by
12.64% as market closed at 6194.25 levels.
 The Nifty Nov future closed at a premium of 38.30
points, against a premium of 32.60 points in the last
trading session. On the other hand, Dec future closed
at a premium of 72.15 points.
 The PCR-OI decreased from 1.37 to 1.26 points.
 The Implied volatility of At-the-money options for
November series increased from 16.00% to 16.50%.
 The total OI of the market is `1,67,226cr and the
stock futures OI is `51,736cr.
 Few liquid counters where cost of carry is positive are
COREPROTEC, GTL, VOLTAS, ISPATIND and
GMDCLTD.




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 FIIs did some long unwinding in the Index futures
and formed some short positions in the stock
futures. Global cues are weak. We may see a
negative opening today.
 Yesterday, significant build up was observed in the
6200 and 6300 call options and unwinding was
observed in the 6200 and 6300 put options.
However, 6000 put added considerable open
interest.
 ONGC has its support around `1,300. Stock has
some short positions too. Negative move around
`1,300-1,310 can be used to form long for the
target of `1,360. Keep a stop loss of `1,280.
 ICICIBANK is showing some long unwinding from
higher levels. We may see further negative move in
the stock up to `1,200. It is advisable to trade with
negative bias with a stop loss of `1,265.

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