The Hindu Business Line : Realty counters turn into active zone

Nifty May future surrendered most of the premium it commanded at Friday’s close. It ended on Monday at 5200.25 against the spot close of 5192.25, a premium of about 8 points. Open interest also remained flat at indicating nervous mood of the market participants.

Among the options, Nifty 5200 strike was the most active among put and call. Both put and calls witnessed healthy addition of open interest positions. This indicates that lot of traders constructed a straddle strategy, by buying both the options, expecting a sharp movement in one direction.

Among the other options, Nifty 5000 put and Nifty 5300 call were the most active. This indicates the immediate support and the resistance for the Nifty.

Stock futures

Reliance Industries was the most active counter among individual stock futures. Realty counters – Unitech, DLF, Hindustan Development and Infrastructure and JP Associates – also entered the active zone. While Unitech May futures saw a sharp surge value, others ended on negative note. Unitech ended at Rs 331.45 against the spot close of 330.65 and added about 3 per cent in open interest positions.

DLF May future closed weak at 706.7 against its spot close of Rs 705.15 and added about 8 per cent in open interest positions. On the other hand, JP Associates and HDIL saw sharp drop in open interest positions, indicating cautious mood of traders.

However, it was Essar Oil that stole the limelight in today’s trade. Essar Oil May future closed at Rs 290.90 and added 13.73 per cent or 6.32 lakh shares in open interest, indicating traders’ buying interest on the counter.

Reliance Industries, Reliance Petroleum and Reliance Energy also saw a marginal drop in open interest positions.

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