The Nifty futures open interest increased by 2.53% while BankNifty futures open interest is increased by 3.59% as market closed at 5327.30 levels. The Nifty July future closed at premium of 17.20 point against premium of 20.10 points. The August series closed at a premium of 46.60 points.

The Implied Volatility of at the money options is decreased from 16.48% to 16.38%. Nifty PCR-OI has increased from 1.20 to 1.22 levels. The total OI of the market is Rs 1,20,503 crore and the stock futures OI are Rs 30,506 crore. Few of the liquid counters where we have seen high Cost-of-Carry are ONMOBILE, TTML, MTNL, GVKPIL and LITL.

FII’s were net buyers in cash market segment; they were net buyers worth of Rs 429 crore On derivatives front they were net buyers in both index futures and in index options.

On options front 5500-5600 call option have seen good amount of buildup in open interest and 5300 call option have seen some unwinding its much of the short covering over there, while in put option 5200-5300 strike price have seen maximum buildup followed by some unwinding in 4800 put option in yesterday’s trading session.

The counter of HINDALCO has seen trading mainly in the range of Rs 110-126 since last few trading sessions. Off late the recent bounce back in this stock has being due to short covering and have not seen much of the long buildup. The stock could see some selling pressure at higher level which could take the counter to around Rs 116. Go short with the stop loss of Rs 131.