MARKET ROUNDUP
The Profit booking in realty, metal, banking and auto stocks saw the Nifty fall after two consecutive days of gains. Evev the Mid-Cap and the Small-Cap stocks were under pressure. Market participants were also jittery ahead of WPI inflation which is scheduled to be announced on November 14, 2014.
HCL Technologies, Infosys, Power Grid, Tech Mahindra, Lupin, Dr Reddy’s Lab, Bharti Airtel and Wipro were among the gainers on NSE, whereas BPCL, Cairn India, Tata Power, SSLT, Gail, IDFC, Bank of Baroda and PNB were among the losers.
F&O HIGHLIGHTS
The Post a flat start, the Nifty remained lacklustre. However, selling got triggered after news of the excise duty hike in petrol and diesel, leading the index to settle 30 points lower. Nifty futures premium declined and settled at 22 points. India VIX fell 4.39% and settled at 13.80
FIIs bought 691 crore while DIIs sold 738 crore in the cash segment. FIIs sold 395 crore in index futures and bought 583 crore in index options. In stock futures, they sold 202 crore
.
The highest Put base is at the 8300 strike with 53 lakh shares while the highest Call base is at the 8500 strike with 58 lakh shares. The 8400 and 8500 Calls witnessed addition of 4.80 and 2.6 lakh shares, respectively. The 8500 and 8400 Put strikes saw reduction of 2.94 and 3.80 lakh shares, respectively.
INDEX OUTLOOK
The Nifty Future: The Nifty is likely to open positive on the back of strong global cues. It is likely to trade in the range of 8365-8435.
Bank Nifty Future: Despite the selling in the index from higher side, it managed to close above the crucial support of 17500. We feel momentum would continue for trading and only a close below these levels would trigger some selling.
INTRADAY STRATEGY
i) BHARTIAIRTEL LIMITED
Buy Bhartiartl Nov fut in range of 392.50393
View :Bullish
Strategy : Buy Future
Target1 : 399 Target 2 : 405
Stop loss : 386.50
Market Lot : 500 CMP : 391.45
ii) ICICI BANK LIMITED
Sell Icici bank ltd. Nov fut in range of 1691-1690
View :Bearish
Strategy : Sell Future
Target 1 : 1703 Target 2 : 1715
Stop loss : 1679
Market Lot : 250 CMP : 1696.00
STOCK ANALYSIS
OI addition : We saw long build-up Ubl, Colpal, Tvsmotor, Hexaware, Sail short build up was seen in Bpcl,Indusindbank, Dlf, Hindpetro, Jp associte
OI Shedding : We saw short cover in Mindtree, Bahrtiartl, Coalindia, Tatachem, Sun tv while long unwinding was seen in Recltd, Federal bank,Idea, Grasim
OI Chart Analysis: From the OI Chart we can see that in November Series addition of open interest
on the calls front is existent in the band at strike price of 8400-8500 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 8300-8200 indicating it as immediate support zone on the downside
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