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Rollover Report jun july 2010- (2)
1. Rollover Report
India Research
Jun 25, 2010
Rollover in Nifty(70.28%) has been high both in terms of percentage and absolute open interest.
Observation throughout the series indicates that FII’s have covered their short positions in index when
nifty started bouncing from 4800 levels and above 5100 they have formed fresh long positions. On the
other hand domestic participants have been skeptical on the market and were net short. Nifty and
Minifty(70.83%) rollovers suggest that its status quo in terms of positions as we start July series. This
indicates that we need not worry about significant rise in open interest and also we are witnessing
substantial inflows in cash market from strong hands despite slight corrections in market. But
assessment of options suggests, 5400-5500 may act as stiff resistance zone for the market and we
would recommend to short around those levels. Time wise this is long expiry and implied volatility is on
the lower side so avoid writing options.
Indices Change NIFTY & PCR Graph
Price
Change 3 month
INDEX Price (%) Rollover avg.
NIFTY 5320.60 6.35 70.28 69.32
BANKNIFTY 9673.60 4.48 74.12 71.86
MINIFTY 5320.60 6.35 70.83 64.21
NFTYMCAP50 2760.50 6.97 - 16.68
CNXIT 6014.60 5.27 71.28 54.70
Monthly Gainers Monthly Losers
Price Ol Price Ol
Change Open Change Change Open Change
Scrip Price (%) Interest (%) Scrip Price (%) Interest (%)
RCOM 188.05 35.09 25348600 (0.83) PATNI 506.95 (7.26) 2100800 64.50
RELMEDIA 213.30 30.38 2524400 0.11 MPHASIS 564.45 (5.76) 2600600 10.08
BGRENERGY 719.20 25.61 466100 632.86 PETRONET 77.50 (4.50) 5451600 26.45
BRFL 255.20 24.73 6982200 61.43 GRASIM 1798.75 (3.93) 252125 127.65
ORCHIDCHEM 164.85 24.09 4122400 (21.13) BPCL 550.75 (3.84) 2582600 17.27
Note: Stocks which have more than 1000 contract in Futures OI. Note: Stocks which have more than 1000 contract in Futures OI.
Sector-wise Open Interest and Rollover
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2. Derivative Report | India Research
Banking and Financials
BANKNIFTY (74.12%) has seen significant rise in
Millions (Rs) 0 28000 56000 84000 open interest with strong rollovers. These are
mainly long positions. It has strong resistance
76% around 9700-9800 levels. Be cautious above these
ICICIBANK Rollover levels.
76% OI (Value) Heavy weights of the sector SBIN (75.56%) and
SBIN ICICIBANK (76.21%) are also near their strong
resistance of 2400 and 920 respectively. Avoid
74% longs in them.
HDFCBANK
Midcap banks like UNIONBANK (59.52%),
HDFC 72% ANDHRABANK (64.86%), BANKINDIA (68.56%)
and ORIENTBANK (68.87%) have witness less
78% rollovers in percentage but have added substantial
SECTOR
OI on month-on-month basis.
Metal and Mining
Millions (Rs) 0 20000 40000 European troubles had led to correction in metal
space and most of the counters have shed open
89% interest.
TATASTEEL Rollover
80% OI (Value) TATASTEEL (89.39%) has witnessed highest
SESAGOA rollover in this space and we believe its more of
short positions from strong hands. Sell on rise;
JSWSTEEL 83%
520 is a strong resistance.
87%
STER HINDALCO (75.23%) has lowest rollovers and
have reduced substantial OI. 135-160 is the zone
84%
SECTOR in which stock may trade for this month.
Oil and Gas
Millions (Rs) 0 20000 40000 GAIL (62.28%) has seen lowest rollover and
reduced significant OI which were long positions
82% Rollover according to us. We suggest move out of longs
RELIANCE
and aggressive traders may short this counter;
OI (Value)
89% stock may drift down to 445-450 levels.
CAIRN
65% ONGC (64.50%) too has seen less rollover. 1220
ONGC is strong resistance for the counter and
1100-1120 is strong support.
ABAN 83%
PETRONET (80.71%) added significant OI and
82%
SECTOR rollovers too are on higher side. These are mainly
shorts. Stock is good buy around 72 levels.
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3. Derivative Report | India Research
Auto and Auto Ancillary
Millions (Rs)
0 10000 20000 30000 APOLLOTYRE (88.37%) has strong support
around 64-65. Counter has added significant OI
81% Rollover which believe are longs and also rollover figure is
TATAMOTORS
decent. Buy near support zone.
OI (Value)
79%
MARUTI
Rise in MARUTI (79.13%) was more due to short
81% covering. We don’t see upside above 1420-1450
M&M levels.
HEROHONDA 76% BHARATFORG (91.95%) has shown highest
rollover. Stock is at it strong resistance of 295-
79% 300. Square-off longs in it.
SECTOR
Information Technology
Millions (Rs) 0 10000 20000 30000
64% INFOSYSTCH (64.25%) has witness less rolls and
INFOSYSTCH Rollover has shed OI. 2800-2850 is strong resistance zone.
OI (Value) Square off longs in it.
81%
TCS
Midcap IT counters like POLARIS (81.50%), ROLTA
89% (56.95%) and MPHASIS (74.41%) have added OI
HCLTECH month-on-month and have underperform.
EDUCOMP 84% TECHM (78.14%) have rallied mainly due to short
covering.
77%
SECTOR
Telecom
Millions (Rs) 0 6000 12000 18000 24000
RCOM (85.76%) has strong resistance around
87% Rollover 195-200 range. Avoid fresh longs. Buy 190 puts
BHARTIARTL to trade with negative bias; 173-175 quite likely.
OI (Value)
86% Counters like GTL (98.05%), MTNL (91.33%),
RCOM
IDEA (89.78%) and TTML (89.55%) have shown
98% high rollovers.
GTL
BHARTIARTL (86.61%) has strong support around
GTLINFRA 80% 255. Square off short positions near support and
form some fresh longs.
88%
SECTOR
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10. Derivative Report | India Research
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