Epicresearch Daily Derivatives Market News Updates On 29 January 2015

MARKET ROUNDUP
A highly volatile trading session ended on a flat note with the BSE Sensex snapping its eight day winning streak on Wednesday. Traders opted to book profits in select shares, ahead of the futures & options expiry tomorrow, after the market scaled fresh record highs in noon deals.
The NSE Nifty came within striking distance of hitting the 9,000-mark, as the index soared to a high of 8,985 in noon trade. The Nifty eventually ended four points higher at 8,914

F&O HIGHLIGHTS
Post a flat start, the index witnessed sharp momentum northwards. However, 8980 acted as a hurdle, which resulted in sharp volatility throughout the day. The Nifty finally ended flat. Nifty future turned into a discount of 10 points. India VIX increased 9.31% and settled at 19.77
FIIs bought 1723 crore while DIIs sold 1293 crore in the cash segment. FIIs sold 1301 crore in index futures and bought 90 crore in index options. In stock futures, they sold 488 crore.
The highest Put base is at the 8000 strike with 50 lakh shares while the highest Call base is at the 9000 strike with 52 lakh shares. The 8800 and 8900 Calls saw reduction of 10.20 and 3.15 lakh shares, respectively. The 8800 and 8900 Put strikes saw addition of 5.84 and 6.05 lakh shares, respectively

INDEX OUTLOOK
Nifty Future: The Nifty is likely to open flat to negative on the back of weak global cues. It is likely to trade in the range of 8955-8880.
Bank Nifty Future: The index is been hovering around 20500 with marginal short position formed on Wednesday. As the index outperformed throughout the series, these shorts are likely to provide cushion near 20200.

STOCK ANALYSIS
OI addition : We saw long built up in Asian paint, Dlf, Voltas, Apollohospital, Pnb short built up was seen in Havells, Nindtree, Ranbaxy, Tatachem, Rpower
OI Shedding : We saw short cover in Indiacement, Tcs,Upl, Reliance, Pfc while long unwinding seen in Ambujacem, Relinfra, Lupin, M&m fin, Ofss.

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 8900-9000 indicating it as resistance on the upside whereas on the put options front we can see that addition of open interest is existent at strikeprice of 8900-8800 indicating it as immediate support zone on the downside.

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