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Derivative market update

SI Reporter/Mumbai 18 Jun 12 | 09:08 AM

In the short term, 5200 will act as immediate and strong resistance, whereas from the downside 4940 to act as major strong support for the current expiry.

NIFTY SNAPSHOT

Nifty futures closed at 5148 with the premium of 9 points over the spot closing of 5139.

Nifty futures added 7.5 lakh shares as Nifty recovered ended the week 1.5% higher as with total open interest 1.63 crores.

On Friday the 5100 Put has added significant open interest which suggests the undertone of the market is increasingly turning bullish. Overall the Nifty is likely to range between 4800 on the lower side to 5200 on the higher side as per total open interest in 4800 put and 5200 call.

The Nifty O.I. PCR has increased further to 1.77 suggesting that the confidence of Put writers is increasing; Volume put call ratio (PCR) for Nifty stood at 1.05 levels. NSE volatility index ended 1% down at 25.54 vs. 25.71 levels.

IV for ATM Options has also been stabilized in 24-25 zone, indicating further bullishness can be seen once Nifty crosses above 5200 in today’s session.

OPTIONS SUMMARY

As per options scenario intraday wise, Nifty has strong resistance placed at 5200 levels, whereas the immediate support for Nifty is placed in 5080-5100 zone.

STOCK FUTURES

Long positions were witnessed in stocks like TATA MOTORS AND GRASIM.

Short positions were witnessed in stocks like STERLITE AND BAJAJ AUTO.

Stocks to watch out from the long side for today are TECH M AND GMDC.

Stocks to watch out from the short side for today are BAJAJ AUTO AND ARVIND.

 

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Source: LKP Securities

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Company Price Gain (%)
Tata Motors427.503.96
Hindalco Inds.140.653.92
ICICI Bank1,268.703.80
St Bk of India2,016.602.90
Axis Bank1,466.152.41

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