Nifty February 2011 futures closed at 5432.00, converging over spot closing of 5432.00, while Nifty March 2011 futures were at 5450.00, at a premium of 18.00 points over spot closing. The near month February 2011 derivatives contracts expire on Thursday, February 24, 2011. Nifty February futures saw an addition of 13.00% or 2.89 million (mn) units, taking the total outstanding open interest (OI) to 25.19 mn units.
From the most active underlying, SBI's February 2011 futures closed at a premium of 14.00 points at 2576.00 compared with spot closing of 2562.00. The number of contracts traded was 30342.Tata Steel February 2011 futures were at a premium of 2.20 points at 628.60 compared with spot closing of 626.40.The number of contracts traded was 30344.Tata Motor's February 2011 futures were at discount of 9.25 points at 1099.05 compared with spot closing of 1108.30. The number of contracts traded was 32182.
Among most active underlyings Tata Motors witnessed a contraction of 1.68% in the February month futures contract, followed by Reliance which saw a contraction of 0.72% of OI in the near month contract. Tata Steel witnessed a contraction of 0.24% in the near-month futures while SBI witnessed an addition of 9.15% and DLF saw an addition of 11.82% in the near month futures contract.
Nifty Option Open Interest Distribution
Nifty Feb 5500 call added 8.64 lakh shares in OI, up 15.56% and 5600 call added 6.52 lakh shares in OI, up 14.69%. On the put side nifty Feb 5400 put added 5.40 lakh shares in OI, up 6.7% and 5300 put added 3.38 lakh in OI, up 8.43%. The put-call ratio of stock option increased from 0.34 to 0.39 while put-call ratio of index option decreased from 0.88 to 0.86. On the whole the put call ratio was at 0.83.
Analyst
Pashupatinathjha@moneysukh.com
NIFTY OUTLOOK:
The nifty future is likely to trade in the range of 5356-5795 level in short term as the OI is added. The trading strategy would be to create short positions if the nifty resists around 5620 levels for the target of 5550 and 5500. On the other hand, one can also create long positions if the nifty gets support around 5450 levels.
Nifty Feb 5500 call added 8.64 lakh shares in OI, up 15.56% and 5600 call added 6.52 lakh shares in OI, up 14.69%. On the put side nifty Feb 5400 put added 5.40 lakh shares in OI, up 6.7% and 5300 put added 3.38 lakh in OI, up 8.43%. The put-call ratio of stock option increased from 0.34 to 0.39 while put-call ratio of index option decreased from 0.88 to 0.86. On the whole the put call ratio was at 0.83.
Analyst
Pashupatinathjha@moneysukh.com
NIFTY OUTLOOK:
The nifty future is likely to trade in the range of 5356-5795 level in short term as the OI is added. The trading strategy would be to create short positions if the nifty resists around 5620 levels for the target of 5550 and 5500. On the other hand, one can also create long positions if the nifty gets support around 5450 levels.
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