The Nifty Futures open| interest (OI) tends to build up prior to the Budget and declines once the event is out of the way. Given that the derivative indicators like the Basis, OI PCR and IV tend to mirror the movements in the Nifty rather than be impacted by the Budget event.
According to a report by Dynamic Levels, Nifty Futures is expected to open at 7969 as per SGX Nifty at 8:30 am IST, which is 45 points below its previous close of 8014.
F&O cues: Nifty futures shed 1 percent in open interest (OI), sheds 1.8 lakh shares and Nifty Bank September futures shed 1 percent in OI.
SP Tulsian of sptulsian.com in an interview to CNBC-TV18 spoke about the fundamentals of stocks and sectors like power, steel, automobiles, with special focus on Jindal Steel & Power and Bharat Bijlee, and quarterly earnings of Maruti Suzuki.
The index, that opened at 1461, has moved nearly 5.5 times in the past 15 years. It has rewarded its investors with 12 percent returns.
According to Deven Choksey, KR Choksey Shares & Securities Nifty will consolidate in 8200-8700 range and if it breaches those levels then 9000-9200 on the upside is likely.
Nirmal Jain, Chairman of IIFL does not see Nifty breaching 7,950 - 8,000 levels, as investors are looking at every correction as an opportunity to buy.
The Nifty is starting the January series with more than 20.8 million shares along with the highest ever seen roll spread of 103 points. Higher Nifty premium does not bode well for upside momentum. Hence, future premium is likely to come down to normal levels in the next couple of sessions, says ICICIdirect.com
ICICIdirect.com has recommended to sell Nifty in the range of 8611-8616. However, advised to buy buy Bank Nifty in the range of 18700-18740, in its report dated December 8, 2014.
One can trade the September series with a positive bias and advised buying Options because the 8200-8300 Call Options are attracting lot of buying interest from stronger hands, said Siddharth Bhamre of Angel Broking
F&O cues: Nifty Put added 33.2 lakh shares and Call added 16.5 lakh shares in open interest.
F&O Cues: Nifty 6300 Call shed 4.8 lakh shares in Open Interest while Nifty 6300 Put added 7.6 lakh shares in Open Interest on December 23.
NSE F&O Cues: Highest open interest buildup has seen at 6000 Put and 6300 Call. Nifty 6000 Put added 4 lakh shares in in open interest on November 27.
F&O cues: Nifty 6300 Call added 3.6 lakh shares in Open Interest and Nifty 6000 Put added 1.7 lakh shares in Open Interest on Thursday.
"They start accumulating or increasing the OI when it reaches around 5,850 or 5,800 thereabouts," he told CNBC-TV18.
According to Dolat Capital‘ derivative report, Nifty has risen to 5700 on the back of short covering. If the momentum sustains, we may see further rise up to 5780.
Vineet Bhatnagar, MD, Phillip Capital told CNBC-TV18 that now the Nifty is witnessing positive rollovers. As for the earning season, his view is that the performance of Indian IT will be depending on the US market‘s performance.
F&O cues: Nifty 5700 Put added 16.5 lakh shares in open interest (OI) on Friday and Nifty 6000 Call added 10 lakh shares in OI.
F&O cues: Highest open interest (OI) buildup was seen at Nifty June 5700 call & Nifty June 5500 put on Wednesday ahead of expiry Thursday.
F&O cues: Nifty 5600 Put added 16.3 lakh shares in open interest (OI) and NIfty 5600 Call added 9.5 lakh shares in OI on Friday.
In an interview to CNBC-TV18, Karun Mutha, HSBC Invest Direct shared his outlook on the F&O market. According to him Nifty at 5,900 levels is a good area to accumulate for a small rally.
VK Sharma, suggests buying 1700 Call of Hero MotoCorp at around Rs 40, keeping a stop loss of Rs 30, hoping to sell on upside
The market momentum on the back of strong fund inflows is likely to continue, believes Udayan Mukherkjee.
Udayan Mukherjee, managing editor, CNBC-TV18 says, market is a grip of serious momentum and flows, so one needs to track that and not worry about valuations.
Brokerage house Angel Broking has come out with its derivative report on nifty and F&O stocks. Tata Power is having very strong support at around Rs 90-92 levels and hence the counter could see some short covering bounce which could take the stock to around Rs 102. One can Go long with the stop loss of Rs 90, said the research firm.