Epicresearch Daily Derivative Market News On 2 January 2015

MARKET ROUNDUP
The market started the New Year 2015 on a cautious note owing to negative macroconomic data and soft global cues. India's fiscal deficit for FY15 reached almost 99 per cent of the full-year target by the end of November 2014 at Rs. 525,000 crore.
The NSE Nifty moved in a range of 46 points, from a low of 8,249 the index rallied to a high of 8,295 and eventually settled a point higher at 8,284. The breadth was fairly positive for the second straight day. Out of 1,735 stocks traded on the NSE, 1,029 advanced and 459 declined.


F&O HIGHLIGHTS
Post a negative start, the index witnessed decent buying on the back of banks, oil & gas, capital goods and telecom. Finally, it ended almost flat recovering from the day’s low. Nifty future premium increased and settled at 60 points. India VIX fell 0.73% and settled at 15.02%
FIIs bought 18 crore while DIIs bought 20 crore in the cash segment. FIIs sold 29 crore in index futures and bought 459 crore in index options. In stock futures, they bought 20 crore
The highest Put base is at the 8000 strike with 59 lakh shares while the highest Call base is at the 8400 strike with 38 lakh shares. The 8500 and 8600 Call strikes witnessed addition of 3.50 and 1.15 lakh shares, respectively. The 8000 and 8100 Put strikes saw addition of 3.25 and 1.75 lakh shares, respectively


INDEX OUTLOOK
Nifty Future: The Nifty is likely to open flat on the back of a trading holiday in most overseas markets. It is likely to trade in the range of 8295-8370.
Bank Nifty Future: PSU banks performed well with select private sector banks. Shifting of activity was seen from 18500 strike Calls to 18800-18900 strikes indicating the momentum is likely to continue.


STOCK ANALYSIS
OI addition : We saw long built up in Tvs motor, Exidind, Andhra bank, Petronet, Idea short built up was seen in Federal bank, Sun tv, Justdial
OI Shedding : We saw short cover in Bhartiartl, Sybdicate, Jswsteel, Rpower, Ptc while no long unwinding seen in Ofss, Zeel, Biocon, Itc


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 8400-8300 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 8200-8100 indicating it as immediate support zone on the downside.

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