Derivative Report India Research Nov 08, 2010: Angel Broking

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Comments
 The Nifty futures’ open interest increased by 1.90%
while Minifty futures’ open interest increased by
19.17% as market closed at 6281.80 levels.
 The Nifty Nov future closed at a premium of 19.75
points, against a premium of 30.75 points in the last
trading session. On the other hand, Dec future closed
at a premium of 46.10 points.
 The PCR-OI increased from 1.33 to 1.36 points.
 The Implied volatility of At-the-money options for
November series decreased from 20.25% to 17.00%.
 The total OI of the market is `1,55,110cr and the
stock futures OI is `49,490cr.
 Few liquid counters where cost of carry is positive are
TTML, PANTALOONR, NHPC, DCB and HINDOILEXP.


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 In the past two trading sessions US market closed
up around 2% and most of the Asian markets are
also positive. SGX Nifty is suggesting a flattish
opening today.
 A considerable build up was observed in the 6400
and 6500 call options and the 6200 and 6300
put options. On the call front, the 6500 strike has
highest open interest.
 In the past few trading sessions, some buying was
observed in HCLTECH. We may see a short
covering in the stock. Therefore, it is advisable to
trade with positive bias for the target of Rs430.
Keep a stop loss of Rs405.
 After correction from higher levels, DLF is showing
some support around Rs350. Negative move
around support can be used to trade with positive
bias for the target of Rs370 with a stop loss of
Rs342.