Epicresearch Daily DERIVATIVES Market News On 31 December 2014

MARKET ROUNDUP
The BSE Sensex opened with a positive gap of 82 points at 27,478, but could not move higher. Persistent supply at select heavyweight counters saw the BSE index slip to a low of 27,312 - down 166 points from the day’s high. The Sensex finally ended with a marginal gain of eight points at 27,404.
Reliance alone accounted for a loss of 30 points on the BSE index, along with ONGC, they accounted for a loss of 41 points for the Sensex. However, the finance majors - SBI, Axis Bank, HDFC and ICICI Bank - collectively contributed 41 points to the index.

F&O HIGHLIGHTS
After a flat start, the index remained lacklustre for a majority of the day. However, towards the end, some positive momentum was seen on the back of banking and select heavyweights leading the index to close flat. Nifty futures premium declined and settled at 70 points. India VIX increased 1.92% and settled at 14.86%
FIIs bought 278 crore while DIIs bought 161 crore in the cash segment. FIIs bought 473 crore in index futures and 1113 crore in index options. In stock futures, they sold 33 crore
The highest Put base is at the 8000 strike with 52 lakh shares while the highest Call base is at the 8400 strike with 35 lakh shares. The 8300 and 8500 Call strikes witnessed addition of 1.30 and 1.43 lakh shares respectively. The 8200 and 8300 Put strikes saw addition of 4.34 and 2.60 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 8280-8370.
Bank Nifty Future: The Put base at the 18500 strike remained an important support and the Bank Nifty witnessed another round of buying momentum from these levels in the last session. Both private and PSU banks witnessed some reversal in the last session.


STOCK ANALYSIS
OI addition : We saw long built up in Adani port, Yes bank, Andhra bank, Allahabad bank, Jswenergy short built up was seen in Heromotocorp, Pnb, Hdil, Cairn,Idea
OI Shedding : We saw short cover in Ntpc, Drreddy, Hdfc bank, Wipro while no long unwinding seen in Jp associate, Tatamtrdvr, Nhpc


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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