The Nifty futures open interest increased by 4.62% while Minifty futures open interest increased by 0.19% as market closed at 5046.25 levels.

The Nifty Jan. future closed at a Premium of 4.80 point against a Discount of 0.75 points. The February Series closed at a Premium of 31.15 points.

The Implied Volatility of at the money options is increased from 18.75% to 24.03%.

The PCR-OI has being increased from 1.60 to 1.61 points. The total OI of the market is  Rs 1,41,694 crore. and the stock futures OI are Rs 33,543 crore.

Few of the liquid counters where we have seen high rollovers are COREEDUTEC, ITC, MCLEODRUSS, ALOKTEXT and GUJFLUORO.

FII’s were net sellers in cash market segment; they were net sellers worth of Rs 59 crore in yesterday’s trading session. On Derivatives front they were net buyers in index futures, while in index options they were net sellers.

On Options front good amount of buildup was visible in 5200 call option, while in put option 4,900-5,000 strike price have seen some buildup of open interest in yesterday’s trading session.

Since most of the rally in the counter of HINDALCO was mainly due to short covering. We have seen some amount of short positions getting buildup in this counter at higher levels and further addition of short positions could not be ruled out. Hence we recommend going short on this counter at every rise around Rs 138-140 levels with the target price of Rs 127 and stop loss at Rs 146.