Epicresearch Daily Derivatives Market News Updates On 28 January 2015

MARKET ROUNDUP
Indices extended their winning streak to eight consecutive trading session as the Indo-US nuclear deal and new business pacts boosted sentiment. The banking stocks led the rally, followed by auto, capital goods, realty and FMCG stocks. Only the IT and the metals stocks were among the major losers.
The NSE Nifty broke above the 8,900-level in the last half-hour of trade, and touched a new summit at 8,925. The Nifty eventually settled 75 points higher at 8,911, and has galloped 7.6 per cent (633 points) in the last eight days. The Nifty is just 89 points shy of the 9,000-mark.

F&O HIGHLIGHTS
Post a flat start, the consolidation trend continued. However, on the back of banking, auto and FMCG, the index managed to close again at a new all-time high adding 75 points. Nifty future premium increased and settled at 12 points. India VIX increased 1.11% and settled at 18.08
FIIs bought 954 crore while DIIs sold 783 crore in the cash segment. FIIs bought 1732 crore in index futures and 624 crore in index options. In stock futures, they sold 757 crore.
The highest Put base is at the 8000 strike with 54 lakh shares while the highest Call base is at the 9000 strike with 47 lakh shares. The 8700 and 8800 Calls saw reduction of 7.04 and 8.10 lakh shares, respectively. The 8800 and 8900 Put strikes saw addition of 8.67 and 14.77 lakh shares, respectively

INDEX OUTLOOK
Nifty Future: The Nifty is likely to open flat to negative on the back of weak global cues. It is likely to trade in the range of 8845-8920.
Bank Nifty Future: We feel that as the index has closed above the 20500 mark, the momentum is likely to extend and open the gates for new expiry targets.

STOCK ANALYSIS
OI addition : We saw long built up in Idea, Federal bank, Apollohospital, Justdial, Mothersumi short built up was seen in Dabur,Upl, Syndicate bank, Tatachemical, Amtek auto
OI Shedding : We saw short cover in Hdfcbank, Bhartiairtel, Lt, Sbin, Jubilant food while long unwinding seen in Bajaj-auto, Sunpharma, M&m, Ibrealest, Biocon

OI Chart Analysis: From the OI Chart we can see that in January Series addition of open interest on the calls front is existent in the band at strike price of 8600-8700 indicating it as resistance on the upside whereas on the put options front we can see that addition of open interest is existent at strike price of 8500-8400 indicating it as immediate support zone on the downside

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