Epicresearch Weekly Derivatives Market News Updates On 19 January 2015

MARKET ROUNDUP
Despite significant volatility seen in global equities, the Nifty was able to surpass its highest Call base of 8400 strike and moved to 8500 with the help of the repo rate cut from the Reserve Bank of India. Most Asian and US indices are trading at the week's low while the Nifty outperformed significantly.
In the week, major gainers in the Nifty were UltraTech Cement (12.8%), Hindustan Unilever (9.5%), ACC Ltd (9%), IDFC Ltd (7.9%) and Bhel (7.7%) On the other hand, Nifty losers of the week were Hindalco Industries (-10.4%), Sesa Sterlite (-7%), Cairn India (-4.5%), Tata Steel (-3.8%) and Bharti Airtel (-3.7%) advanced and 459 declined.

F&O HIGHLIGHTS
Post a flat start, the ongoing positive momentum was seen on Friday as well throughout the day. This drove the index to close 21 points higher. Nifty future premium remained unchanged and settled at 21 points. India VIX increased 6.89% and settled at 17.27
FIIs bought 1100 crore while DIIs sold 717 crore in the cash segment. FIIs sold 848 crore in index futures and bought 527 crore in index options. In stock futures, they bought 1206 crore
The highest Put base is at the 8000 strike with 68 lakh shares while the highest Call base is at the 8600 strike with 46 lakh shares. The 8600 and 8700 Calls saw reduction of 1.70 and 4.03 lakh shares, respectively. The 8400 and 8500 Put strikes saw addition of 3.94 and 6.27 lakh shares, respectively

INDEX OUTLOOK
Nifty Future: The Nifty is likely to open positive on the back of strong cues from the US. It is likely to trade in the range of 8525-8600.
Bank Nifty Future: The overall support remains intact with further accumulation of long positions last Friday. Both private as well as select public sector banks are supporting well

STOCK ANALYSIS
OI addition : We saw long built up in Sun tv, Lichousing fin, Powergrid, Indiacement, Century textile short built up was seen in M&m fin, Bhartiartl, Tcs, Adani enterprises
OI Shedding : We saw short cover in Igl,Justdial,Nmdc, Havells, Jppower while long unwinding seen in Icicibank,Idbi, Iob, Hexaware, Kotak bank, Wockhart

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 8500-8600 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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