Epicresearch Weekly Derivatives Market News Updates On 27 January 2015

MARKET ROUNDUP
In the last two weeks, the NSE Nifty index shot up by over 600 points or 7.6% to race past the 8800 mark while the BSE Sensex conquered 29000 mark. Steady FII infl ows and hopes of reforms in the upcoming Budget will keep spirits high. Any correction may be shortlived unless there are major global events.
The coming week being a truncated one will be choppy too. Over the weekend the developments in Greece will playout and Indian markets will get a chance to react only on Tuesday. Various sectors will also react to Obama’s visit and the promises he makes.

F&O HIGHLIGHTS
With a gap up opening of over 90 points, the index witnessed some profit takeaway and remained lacklustre. However, unable to take out the morning high, the Nifty finally settled 70 points higher. Nifty future premium declined and settled at 9 points. India VIX declined 3.66% and settled at 17.88
FIIs bought 2020 crore while DIIs sold 1300 crore in the cash segment. FIIs bought 1372 crore in index futures and sold 659 crore in index options. In stock futures, they sold 220 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 44 lakh shares. The 8700 and 8800 Calls saw reduction of 2.30 and 5.13 lakh shares, respectively. The 8800 and 8900 Put strikes saw addition of 19.97 and 5.58 lakh shares, respectively

INDEX OUTLOOK
Nifty Future: The Nifty is likely to open gap up on the back of strong global cues. It is likely to trade in the range of 8795-8880.
Bank Nifty Future: Huge participation and pumping in of money was seen by FIIs with the index seeing good support around the highest Call base of 20000. The current momentum is likely to extend till 20500 in the days to come.


STOCK ANALYSIS
OI addition : We saw long built up in Idea, Adani ent, Tatapower, Yes bank, Apollohospital short built up was seen in M&m fin, Titan, Hcltech, Sksmicro
OI Shedding : We saw short cover in Ptc, Hdil, Hdfc bank, Ashok ley, Wockpharma while long unwinding seen in Jain irrigation, Tatasteel, Century textile, Axis bank

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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