Geojit BNP Paribas derivative analysis

Nifty BSE | NSE 10/02/12 Are Mutual Funds betting on Nifty?

Geojit BNP Paribas has come out with its derivative analysis.

"Volatile session on Dalal Street ahead of F&O expiry with profit booking at higher levels from institutional investors despite strong global markets made Sensex and Nifty gaining 0.40% on Wednesday's trade. Dollar weakness made commodity space once again rising, led by Reliance, ONGC and Tata Steel lending strong support for the market along with banking majors like HDFC Bank, PNB and Axis Bank witnessing buying interest throughout the day. Nifty November Futures provisionally closed at a premium of 4.05 points against Spot Nifty and sheds 23.69 lakhs open interest on rollover towards December series due to unwinding of long positions. However, Nifty December series added 49.12 lakhs open interest on long rollovers amid strong global markets in the light of dollar weakness persisting. Rollover of Nifty for the month of December was at 63.01% after the day's trade, with tremendous rise against previous month, suggesting further upside expectation from investors. Nifty PC ratio for December series rose to 1.63 from 1.58 with fresh short built up seen in 5000 put followed by huge addition of open interest seen in 5200 call, suggesting immediate resistance for Nifty above 5200 and strong support near 5000 levels. 5200 call adds 2.24 lakhs open interest, followed by 5000 put that added 5.25 lakhs open interest On Stock Futures segment, Reliance adds 16.41 lakhs open interest, followed by ICICI bank that added 25.55 lakhs open interest with negative cost of carry," says Geojit BNP Paribas research report.

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