Nifty Snap Last week Nifty ended with good gains on the post budget expectations and stability of the world markets. It ended at 5088.70 gaining 3.38%. If we look at the derivatives data we can see that the Nifty prices have surged with an overall addition of open interest but with decline in the cost of carry; this is an indication that some shorts have been built in the markets at higher levels. For the coming week we may see Nifty facing Resistance at 5130/5180 Mark whereas Immediate Support is seen at 5045/4990 Mark. Sustenance of Nifty below 4990 mark can lead to further sell off in which case the next Support is seen at 4950 Mark.
www.capitalvia.com | 2 Weekly Report Derivatives 08th March to 13th Mar 2010 RESEARCH
Derivative Wrap
Bank Nifty
Sentiment Indicator Bank Nifty:
Particulars 5th Mar 26th Feb %Change
Spot Bank Nifty 9038.45 8722.75 3.61
Bank Nifty Futures 9054.80 8740.45 3.59
BankNifty CoC (%) 3.30 2.74 +20.43
Open Interest 1065000 1064600 +0.037
Volume 28412 45576 -37.66
Bank Nifty Snap
Last week Bank Nifty index surged by 3.61% and closed above its 9000 mark at 9038.45. The Bank Nifty futures on weekly basis saw a nominal addition of open interest of 0.037% along with rise in the cost of carry; this is an indication that as the OI addition was not much the index has raised more on account of short covering and some speculative longs being built up at lower levels. For the coming week Bank Nifty will continue to face Resistance at 9105-9135 Mark a sustenance above this range may continue the march in it and in that case it can go up to 9175/9225 Mark whereas on the downside support is seen at 8950/8900/8850 Levels.
www.capitalvia.com | 3 Weekly Report Derivatives 08th March to 13th Mar 2010 RESEARCH
Derivative Wrap
CNX IT
Sentiment Indicator CNX IT:
Particulars 5th Mar 26th Feb %Change
Spot CNX IT 5843.20 5766.70 +1.32
CNX IT Futures 5841.05 5783.95 +0.98
CNX IT CoC (%) -0.67 4.04 -14.22
Open Interest 23400 20200 +15.84
Volume 125 365 -65.75
CNX IT Snap The CNX IT Index surged last week by 1.32% and closed at 5843.20. The CNX IT futures saw addition of open interest along with decline in the cost of carry; this is an indication of fresh shorts being built in the CNX IT futures. For the coming week CNX IT will continue to face Resistance at 5925 Mark and a decisive maintenance above this level will only provide strength to it whereas on the downside immediate support for the Index is seen in the range of 5800-5785 below which the sell off may continue and it may drag towards 5725/5685 levels.
www.capitalvia.com | 4 Weekly Report Derivatives 08th March to 13th Mar 2010 RESEARCH
Options Snap
5400
From the Options Data we can see that highest addition of open interest is seen on the calls front at strike price of 5100 which has nearly 69.12 lakh shares outstanding in open interest indicating it as a Resistance Mark on upside whereas on the put options front we can see maximum addition is at strike price of 5000 where nearly 69.39 lakh shares are outstanding in open interest, this is an indication that this level may act as good support for the coming sessions. Thus, looking on to the options data we can witness a range bound market where we will find supports on the downside at 5000 levels and simultaneously we will continue to face Resistance at 5100 levels.
www.capitalvia.com | 5 Weekly Report Derivatives 08th March to 13th Mar 2010 RESEARCH
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