Epic Research Daily DERIVATIVES Market Report On 30 December 2014

MARKET ROUNDUP
The Indian equity market started the week on an optimistic note ending with smart gains on Monday owing to strong global cues and renewed hopes of faster economic growth as the government pushed for key reforms via the ordinance route.
The BSE benchmark index, the Sensex, opened 24 points higher at 27,266. Continued buying in auto, FMCG, metal and IT shares led the index rally to a high of 27,507 - up 265 points from the previous close.

F&O HIGHLIGHTS
After a gap up opening, the Nifty moved up almost 80 points before closing 0.55% higher at 8246. The Bank Nifty continued to trade with profit booking bias and closed 0.4% lower while IT & cement supported the index. Nifty futures premium declined and settled at 71 points. India VIX declined almost 0.5% and settled at 14.58%
FIIs sold 204 crore while DIIs bought 360 crore in the cash segment. FIIs bought 548 crore in index futures and bought 1253 crore in index options. In stock futures, they sold 15 crore
The highest Put base is at the 8000 strike with 47 lakh shares while the highest Call base is at the 8400 strike with 34.5 lakh shares. The 8300 Call witnessed closure of 1 lakh shares. The 8100, 8200 and 8300 Put strikes saw addition of 6.6, 5.1 and 5.5 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 8285-8355.
Bank Nifty Future: Highest Call base remain intact at 19000 while good activity is been seen in the 18500 put. Private banks have been giving good support to the index indicating that 18500 is likely to act as a support.

STOCK ANALYSIS
OI addition : We saw long built up in Havells,Tvsmotor,Apollohospital, Apllotyre,Petronet short built up was seen in Voltas, Nmdc, Dabur, Cairn, Unitech
OI Shedding : We saw short cover in Adani ent, SSlt, Sail, Godrej ind, Ioc while no long unwinding seen in Orient bank, Can bank

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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