ICICIdirect's Derivative Report:
Nifty
The Nifty traded with a positive bias throughout the day. Expiry activity was seen towards the end in select stocks, which led the index to settle 30 points higher. Nifty futures settled at a premium of 11 points and started the April series with 2.61 crore shares. India VIX rose 0.6 percent to 12.1.
Nifty rolls were at 67.7 percent, marginally lower than the 3M average of 71.4 percent. Market wide rollover at 80.3 percent was in line with the 3M average of 81.7 percent.
FIIs bought Rs 68 crore while DIIs bought Rs 1702 crore in the cash segment. FIIs bought Rs 1244 crore in index futures and Rs 3921 crore in index options. In stock futures, they sold Rs 1542 crore.
The highest Put base for the April series is at the 9000 strike with 31 lakh shares while the highest Call base is at the 9500 strike with 29 lakh shares.
Nifty Bank
As the rollover cost was low, the April series witnessed long rollover with decent activity in options. As the index has managed to end above 21500, the on going trend is likely to continue.
Nifty Future: The Nifty is likely to open flat on the back of mixed global cues. Sell Nifty in range of 9205-9215 for targets of 9155-9135, stop loss: 9235.
Bank Nifty Future: As the rollover cost was low, the April series witnessed long rollover with decent activity in options. As the index has managed to end above 21500, the ongoing trend is likely to continue. Buy Nifty Bank in the range of 21400-21440, targets: 21550-21650, stop loss: 21340.
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