The Hindu Business Line : Nifty 3200 call sees drop in open positions

Chennai, Nov. 6 Turnover improved quite substantially amidst falling market to Rs 43,836 crore in the F&O segment on Thursday against Wednesday’s volume of Rs 38,551crore.

The Nifty future maintained its discount to close at 2883.3 against the spot close of 2892.65. It added about 21.56 lakh shares in open interest positions. The unmatched bid/ask order book, however, suggests accumulation of long positions, particularly during the closing hours of the market.

Options

Puts were the most active. Among them, 2800, 2900 and 2700 strikes were the most active. On the call side, Nifty 3200 and 3000 were the most active. Interestingly, all the above mentioned options witnessed drop in open interest position. Among them, 3200 call saw sharp erosion in open positions; it shed 4.16 lakh shares or 16 per cent in open positions. The 3000 call also witnessed a sharp drop or 1.79 lakh shares or 8.7 per cent in open interest positions.

While puts saw profit-booking, the sharp drop in calls’ open interest indicates the emergence of call writers.

India VIX or NSE Volatility index, which measures the immediate expected volatility in the market, continued to climb; it ended at 69.26 on Thursday against the previous day’s close of 66.75, pointing towards volatile session ahead.

Stock futures

Reliance, SBI and Bharti Airtel were the top traded counters. Today’s trading saw accumulation of long positions, particularly during the last hour of trading for many individual stock futures. Most of the active counters ended in premium against their respective spot closes.

Bharti Airtel, ICICI Bank, NTPC and DLF saw sharp accumulation in open interest positions.

Counters which ended in discount were Reliance Capital, ICICIB Bank, BHEL and NTPC.

FII activity

After remaining net buyers for the past few days, foreign investors turned net sellers to the tune of Rs 1,199.89 crore. They were net sellers in index futures by Rs 965.59 crore, stock futures by Rs 112.41 crore and on index options by Rs 130.25 crore.

More Stories on : Stock Markets | On the hedge

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Developments

Short-term outlook for broking firms appears bleak

IVRCL Infra jumps 66% in a week

Tata Motors, Ashok Leyland witness sharp slide

USFDA nod opens up revenue opportunity

Art collectors on bargain hunt in depressed market

Nifty 3200 call sees drop in open positions

Chambal Fert (Rs 43.75): Sell

Day Trading Guide

Rajnikant Patel joins Reliance Money