The Nifty futures open interest increased by 1.84% while BankNifty futures open interest is increased by 4.98% as market closed at 5064.25 levels. The Nifty June future closed at discount of 5.45 point against a premium of 8.65 points.

The July series closed at a premium of 16.15 points. The Implied Volatility of at the money options is decreased from 24.90% to 20.50%. The PCR-OI has decreased from 1.51 to 1.44 levels. The total OI of the market is Rs 1,21,766 crore and the stock futures OI are Rs 25,725 crore. Few of the liquid counters where we have seen high cost of carry are COREEDUTEC, BEL, NAGAROIL, JPPOWER and ALOKTEXT.

FII’s were net buyers in cash market segment; they were net buyer’s worth of Rs 412 crore. On derivatives
 
front they were net buyers in index futures of just Rs 190 crore with decent buildup in open interest indicating a mix of long and short both and in index options also they were net buyers.

On options front buildup in call option was quite scattered however maximum was in 5,300 strike price, while in put option 4,700 and 4,900 strike price have seen good amount of buildup in open interest and 5,100-5,200 put option have seen some unwinding followed by 4,600 put option where maximum unwinding was observed in yesterday’s trading session.

The counter of JPASSOCIAT has seen mix of long and short buildup since last few trading session and the stock in yesterday’s trading session has seen some long unwinding with decrease in CoC. We feel the counter could see the mix of short buildup and long unwinding pressure which could take the stock to around Rs 63. Go short with the stop loss of Rs 73.