Derivative market update
The options data for Nifty suggest a strong buildup at 4800 PE and 5200 CE, indicating that the support for medium term is this range of 8% on Nifty. However, from extreme short term view support is at 5000 and resistance at 5200.
The India VIX witnessed contraction of 3.28% at 24.20 as compared to its previous close of at 25.02 on Monday.
Nifty June 2012 futures closed at 5,126.45 at a premium of 10.55 points over spot closing of 5,115.90
Nifty July 2012 futures were at 5,147.85 at a premium of 31.95 points over spot closing.
Nifty June futures saw an addition of 0.64 million (mn) units taking the total outstanding open interest (OI) to 15.73 mn units; The Nifty Put Call Ratio (PCR) OI wise stood at 1.69 for June-month contract.
The respective Support and Resistance levels are: Resistance 5158.15-- Pivot Point 5086.65--Support 5044.4.
Nifty calls, 5200 SP from the Jun month expiry was the most active call with an addition of 0.27 million open interest.
Nifty puts, 4800 SP from the Jun month expiry was the most active put with an addition of 0.21 million open interest.
The maximum OI outstanding for Calls was at 5200 SP (5.85mn) and that for Puts was at 4800 SP (8.06mn).
Long positions were witnessed in stocks like INDIAINFO AND UCOBANK.
Short positions were witnessed in stocks like SOBHA AND LUPIN
Stocks to watch out from the long side for today are GMRINFRA AND PNB.
Stocks to watch out from the short side for today are RAYMOND AND DRREDDY
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Source: LKP Securities