May 02, 2013
The Nifty futures open interest increased by 2.40% whileBankNifty futures open interest is decreased by 1.39% asmarket closed at 5930.20 levels.
The Nifty May future closed at discount of 1.20 pointagainst a premium of 14.10 points. The June seriesclosed at a premium of 8.55 points.
The Implied Volatility of at the money options hasincreased from 13.21% to 13.72%.
Nifty PCR-OI has increased from 1.05 to 1.08 levels.
The total OI of the market is Rs. 1,16,438/- cr. and thestock futures OI is Rs.25,912/- cr.
Few of the liquid counters where we have seen high costof carry are INDHOTEL, TATACHEM, GSPL, ASHOKLEYand COLPAL.
Nifty Vs OIOI Gainers
1704000 28.90 147.80 0.51
762000 23.70 285.80 -2.79
163750 16.96 1471.45 5.79
8005000 12.87 583.80 17.27
1051000 10.86 323.85 1.16
SCRIP PCR-OI PCR-VOL
NIFTY 1.08 1.28BANKNIFTY 1.46 1.29INFY 0.42 0.44HINDUNILVR 1.31 0.98RELIANCE 0.45 0.41
FII’s continue to buy in cash market segment; theywere net buyers worth of Rs.877/- cr. On derivativesfront not much of activity was observed by them inindex futures, however significant amount of longbuildup was seen in index options in Tuesday’strading session.
On options front 5700-5800 put option has seengood amount of buildup in open interest and withIV’s going up majority of this buildup could be on thelonger side, while in call option 6200 strike has seenmaximum buildup in open interest in Tuesday’strade.
Recent bounce in HINDALCO was mainly due toshort covering. The stock in last few trading sessionshas seen some short buildup and also at around
100 the counter could face resistance as 100 calloption has highest buildup in open interest and withIV’s of call option going down majority of this buildupcould be on the shorter side. Hence we recommendto go short at around
98-99 levels with the stop lossof
101.50 and target of
HINDUNILVR 84.97COLPAL 35.34BATAINDIA 42.95MCDOWELL-N 53.02SRTRANSFIN 49.06
1581500 -13.77 745.45 5.17
14580000 -10.95 74.45 -1.09
1755500 -9.72 348.35 1.56
2747000 -8.57 721.40 2.57
8555500 -8.14 682.30 -2.32