Epicresearch Daily Derivatives Market News Updates On 21 January 2015

MARKET ROUNDUP
The Sensex and Nifty extended their four-day winning streak as the Sensex surged 523 points, while the Nifty soared 145 points with HDFC (up 6%) and ITC (3%) contributing most of the gains. Metal stocks managed to rally strongly on China GDP data.
The market entered into a euphoric phase in the second half of the trading session, as the Nifty scaled newer heights on the back of frenzied buying in financials and metal stocks .

F&O HIGHLIGHTS
The Nifty continued to shine and recorded a new all-time high adding 145 points. Participation was seen across the board with banking and metals being key drivers. Nifty future premium declined and settled at 22 points. India VIX
fell 2.13% and settled at 17.27
FIIs bought 1276 crore while DIIs sold 762 crore in the cash segment. FIIs bought 1749 crore in index futures and 1001 crore in index options. In stock futures, they bought 295 crore
The highest Put base is at the 8000 strike with 62 lakh shares while the highest Call base is at the 8700 strike with 48 lakh shares. The 8700 and 8800 Calls saw addition of 2.60 and 4.94 lakh shares, respectively. The 8600 and 8700 Put strikes saw addition of 22.15 and 18.60 lakh shares, respectively

INDEX OUTLOOK
Nifty Future: The Nifty is likely to open flat to positive on the back of mixed global cues. It is likely to trade in the range of 8650-8750.
Bank Nifty Future: The banking index also moved up strongly as other components of the Nifty also performed. Bank futures saw fresh long creation of over 5%. Along with this, the Call option buying moved to higher strikes including 20000 strike, which is the immediate target.

STOCK ANALYSIS
OI addition : We saw long built up in Star, Dishtv,Wockpharma, Yes bank, Tata motors short built up was seen in Mindtree, Heromotocorp, Titan, Sksmicrofin, Powergrid
OI Shedding : We saw short cover in Tatasteel, Nmdc, Relinfra, Sslt while long unwinding seen in Bajaj auto, Tatapower, Dlf, Jain irrigation

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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