WEEKLY NIFTY FUTURE OBSERVATION
OBSERVATION
1) Total OI of NIFTY FUT up 4.05%, NIFTY JULY FUT marginal up 0.84%
last week. 4 points premium turned to 5 points (-9 points) discount
compare to NIFTY SPOT last week.
2) Out of NIFTY 50 STOCK FUTS, 19 STOCK FUTS closed positive, 12
STOCK FUTs closed negative and 19 STOCK FUTs close flat last week.
3) OI of current series 5300 CE is down 30.04% prices up 17.83% and
5400 CE is down 13.30% prices up 15.99% showing profit booking. OI of
current series 5500 CE is up 21.63% prices up 8.87% showing call buying.
5500 CE highest OI at 1.23 CR, highest OI in single strike NIFTY CALL in
current bull run.
4) OI of current series 5300 PE is up 12.14% prices down 77.13% showing
unwinding plus put writing. OI of current series 5400 PE is up 82.01% prices
down 59.26% showing put writing. 5300 PE highest OI at 98.69 LK.
5) Total OI of NIFTY JULY series CALLs is down 4.58 LK to 3.71 CR, PUTs
is up by 42.22 LK to 6.03 CR. NIFTY JULY series PCR (OI) at 1.63 up by
0.14 points last week.
6) FII OI in INDEX FUT at 652390 contracts up by 2397 contracts last week.
7) INDIA VIX at 19.24 down by 0.46 points last week.
CONCLUSION :- I expect range bound move next week with possibility of volatility
due to expiry. NIFTY SPOT minor R 5470-80, Strong R 5520-30 levels. Any up
move above 5500 levels will attract profit booking. On down side, NIFTY SPOT will
take S 5420-30, Strong S 5370-80 levels. Only below 5360 levels will warn about
major profit booking which looks difficult in current situation. Stock specific move will
remain. High possibility new series to begin with positive note.
RAVI TARDEJA
DATE :- 24-07-2010