Keynote derivatives daily report for 250412


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Keynote derivatives daily report for 250412

  1. 1. Daily DerivativesOutlook 25thApril 2012 Spot Near Premium NiftyNifty 5223 5224 1 The Nifty futures went into a marginal premium as theBank Nifty 10215 10228 13 market did not follow through on the downside due toUSD/INR 52.7910 52.7775 -0.01 rollover activity gathering pace. The Call options at 5200 and 5300 strikes saw fresh short-build-up. Put writingSource – NSE was also seen in 5200 Put as the equilibrium moved lower to around 5200. The highest call open interest is Highest Call Open Interest at 5400 and highest put open interest is at 5200. The 1 2 3 Nifty futures rolled over 43% of the open interest to theNifty 5400 5300 5200 mid- month.Bank Nifty 10500 10700 10600USD/INR 51.5 52 53 Bank NiftySource – NSE The Bank Nifty futures registered a small premium over spot due to short covering. The 10200, 10300 and Highest Put Open Interest 10400 calls added open interest on fresh call writing. 1 2 3 The 10000 to 10500 puts shed open interest due toNifty 5200 5000 5100 unwinding of short positions. The equilibrium in Bank Nifty remains at 10200, with the highest call openBank Nifty 10000 10500 10400 interest at 10500 and highest put open interest atUSD/INR 51.5 53 52 10000. The Bank Nifty futures rolled over 37% of theSource – NSE open interest to the mid-month. Put/Call Ratio Analysis USD/INR Near 1 Near 0.5 Near 1.5 The equilibrium moved up to 53 due to fresh put writingNifty 5200 5300 5200 at 53 put and 52.5 put along with fresh call buying at 53 call. The highest call open interest is at 51.5 and 52,Bank Nifty 10200 10500 10000 withthe highest put open interest at 53 and 51.5. TheUSD/INR 53 52.5 51 USDINR futures rolled over 44% of the open interest toSource – NSE the mid-month. Stock FuturesRollover Analysis (Nifty Rollover=43%) Stocks which rolled over above Nifty (43%) includeGreater than Greater Less than Less than HDFC, Maruti, Axis Bank, Reliance, Sterlite and Tata 43% than 43% 43% 43% Motors. HDFC Reliance Bharti REC The stocks with below average rollovers include Bharti, HCL Maruti Sterlite ACC Tech ACC, Hindalco, REC, HCL Tech and TCS. Tata Axis Hindalco TCS Motors Keynote Capitals Ltd. th The Ruby, 9 Floor, SenapatiBapatMarg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322
  2. 2. DisclaimerThis document is not for public distribution and has been furnished to you solely for your information and must not be reproduced orredistributed to any other person. Persons into whose possession this document may come are required to observe these restrictions.This material is for the personal information of the authorized recipient, and we are not soliciting any action based upon it. This reportis not to be construed as an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer orsolicitation would be illegal. It is for the general information of clients of Keynote Capitals Ltd. It does not constitute a personalrecommendation or take into account the particular investment objectives, financial situations, or needs of individual clients.We have reviewed the report, and in so far as it includes current or historical information, it is believed to be reliable though itsaccuracy or completeness cannot be guaranteed. Neither Keynote Capitals Ltd., nor any person connected with it, accepts any liabilityarising from the use of this document. The recipients of this material should rely on their own investigations and take their ownprofessional advice. Price and value of the investments referred to in this material may go up or down. Past performance is not a guidefor future performance. Certain transactions -including those involving futures, options and other derivatives as well as non-investmentgrade securities - involve substantial risk and are not suitable for all investors. Reports based on technical analysis centers on studyingcharts of a stock’s price movement and trading volume, as opposed to focusing on a company’s fundamentals and as such, may notmatch with a report on a company’s fundamentals.Opinions expressed are our current opinions as of the date appearing on this material only. While we endeavor to update on areasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent usfrom doing so. Prospective investors and others are cautioned that any forward-looking statements are not predictions and may besubject to change without notice. Our proprietary trading and investment businesses may make investment decisions that areinconsistent with the recommendations expressed herein.We and our affiliates, officers, directors, and employees world wide may: (a) from time to time, have long or short positions in, and buyor sell the securities thereof, of company (ies) mentioned herein or (b) be engaged in any other transaction involving such securitiesand earn brokerage or other compensation or act as a market maker in the financial instruments of the company (ies) discussed hereinor act as advisor or lender / borrower to such company (ies) or have other potential conflict of interest with respect to anyrecommendation and related information and opinions.The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personal views about thesubject company or companies and its or their securities, and no part of his or her compensation was, is or will be, directly or indirectlyrelated to specific recommendations or views expressed in this report.No part of this material may be duplicated in any form and/or redistributed without Keynote Capitals Ltd’s., prior written consent. Keynote Capitals Ltd. th The Ruby, 9 Floor, SenapatiBapatMarg, Dadar (W), Mumbai, India – 400028. Tel: 3026 6000 / 2269 4322