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Our Bureau

Chennai, Dec. 11 Despite strong recovery, trading volumes remained low in the F&O segment on the NSE. Tuesday’s turnover, though improved at Rs 59,422 crore against Monday’s Rs 47,278 crore, was much lower when compared with the average daily turnover of November and October that stood at Rs 68,968 crore and Rs 83,348 crore respectively.

Nifty future also saw a further dip in its premium; it now rules with a premium of about 10 points against Monday’s figure of 12.75 points, mainly on account of creation of fresh short positions towards closing hours.

According to the NSE Web site, Nifty December future shed open interest marginally. Traders also said that lot unwinding of long positions happened during intra-day.

On Monday, we had advised investors to consider straddle by buying 6000-strikes of call and puts; the strategy is currently at neutral.

Reliance pack was back in the thick of action. Reliance Industries was the most active among them followed by Reliance Energy, Reliance Petroleum, RCom and RNRL. Apart from R-pack, momentum counters such as IDFC, MTNL, MRPL also witnessed sharp activity.

However, today’s star performer was Lanco Infratech Ltd. The Lanco Infra future jumped 16 per cent at Rs 703.50 and in premium to the spot close of Rs 699. Open interest position dipped 6 per cent.

After today’s recovery, Reliance Industries look promising on the chart. The Reliance future closed at Rs 2,904.4 against the spot close of Rs 2,885.65.

Investors may consider going long on the counter by keeping the stop-loss at Rs 2,820-2,830.

The NSE has imposed trading ban on Gitanjali Gems, Jindal Agro, Nagarjuna Fert, Parsvanath, IFCI, Hotel Leelaventure, Bongaigaon Refinery, Adlabs Films, Balrampur Chini Mills GMR Infra, JP Hydro and Arvind Mills, as open interest positions have crossed 95 per cent of the market-wide position limit.

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