The document summarizes data on changes in open interest (OI) for Nifty options, stock futures and index derivatives. It notes that the maximum OI changes for Nifty calls was at the 8,300 strike price (SP) and for puts was at 8,000 SP, indicating the likely range for Nifty. It also discusses OI changes for specific stocks like Axis Bank and Reliance Industries. Finally, it provides details on FII buying and selling in index futures, options and stock futures.

1. Nifty Options - OI Distribution
 The Nifty was down by 39.35 points or
0.48% to settle at 8,182.45.
 As per the OI data, the maximum OI
changes for Calls was at 8300 SP and that
for Puts was at 8000 SP which indicates
range of the Nifty. However, in todays’
trading session, we might witness gap
down opening, so any rise upto the level
of 8150-8160, would become the best
selling opportunity with the SL of 8200 for
the Target of 8070-8020.
 Nifty December 2016 futures closed at
8197.65 on Wednesday at a premium of
15.20 points over spot closing of 8182.45.
 Nifty December futures saw a contraction
of 0.38 million units, taking the total
outstanding open interest (OI) to 16.58
million units.
 Among most active underlying, Axis Bank
witnessed a contraction of 3.19 million of
Open Interest in the December month
futures contract, followed by Reliance
Industries witnessing a contraction of 4.31
million of Open Interest in the December
month contract.
 The top five scrips with highest PCR on OI
were Godrej Consumer Products (14),
Colgate-Palmolive (India) (2.38), Marico
(1.83), Apollo Hospitals Enterprise (1.45)
and Hero MotoCorp (1.33).
Nifty Options – Change in OI
Highlights
FII & DII Derivative Statistics
15th Dec’16
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
7800 7900 8000 8100 8200 8300 8400 8500 8600 8700
Call Put
-200000
-100000
0
100000
200000
300000
400000
500000
7800 7900 8000 8100 8200 8300 8400 8500 8600 8700
Call Put
Buy Value Sell Value Net Value
FIIs 4,178 4,811 (632)
DIIs 1,749 1,539 211
Net Value
Net Value 35,398 37,430 (2,032)
Index Futures 1,172 1,252 (80)
Index Options 25,893 27,898 (2,005)
Stock Futures 5,747 5,635 112
Stock Options 2,586 2,645 (59)
Provisional FIIs & F&O Market (Rs. Cr)
Provisional Cash Market (Rs. Cr)

2. Derivative Strategy Pay- Off Chart
 The India Volatility Index increased by 4.20% and reached
16.59.
 Among Nifty calls, 8300 SP from the December month
expiry was the most active call with an addition of 0.23
million open interests. Among Nifty puts, 8100 SP from
the December month expiry was the most active put with
an addition of 0.29 million open interests.
 The Nifty Put Call Ratio (PCR) finally stood at 1.21 for
December month contract.
India VIX v/s Nifty Chart
15th Dec’16
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
Long Built Up
Symbol Close Price Chng % OI Chng % Buy Above
GODREJIND 413.55 0.46 4.02 418.73
VOLTAS 317.80 0.03 3.92 319.88
JSWENERGY 59.50 0.85 3.41 60.46
TITAN 321.3 0.17 2.21 323.88
Short Covering
Symbol Close Price Chng % OI Chng % Buy Above
AXISBANK 467.10 3.07 -10.87 473.00
MINDTREE 502.25 1.52 -8.56 506.83
OIL 446.35 0.54 -6.20 450.82
APOLLOTYRE 197.75 0.43 -5.87 199.24
Short Built Up
Symbol Close Price Chng % OI Chng % Sell Below
ONGC 305.55 -1.99 17.85 302.86
IBULHSGFIN 649.05 -3.31 15.95 637.21
KSCL 393.20 -8.63 14.44 373.22
ORIENTBANK 115.7 -3.34 12.44 113.87
Long Liquidation
Symbol Close Price Chng % OI Chng % Sell Below
ENGINERSIN 306.45 -2.12 -9.06 303.49
KTKBANK 110.50 -1.95 -7.46 108.95
TATAELXSI 1458.65 -2.07 -6.54 1445.99
NTPC 164.00 -0.43 -6.35 162.89

3. Contact Us
Kkunal Parar
Sr. Research Associate
kkunal.parar@choiceindia.com
Vikas Chaudhari
Research Associate
vikas.chaudhari@choiceindia.com
www.choiceindia.comcustomercare@choiceindia.com
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Kapil Shah
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Amit Pathania
Research Associate
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15th Dec’16
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
Kkunal Parar
Digitally signed by Kkunal Parar
DN: cn=Kkunal Parar, o=Choice Equity Broking Pvt Ltd.,
ou=Research Dept.,
email=kkunal.parar@choiceindia.com, c=IN
Date: 2016.12.15 09:08:43 +05'30'