- The Nifty closed down slightly at 8,398 points, with maximum call and put open interest at strike prices of 8,400 and 8,300 respectively. - Among individual stocks, Reliance Industries saw a large increase in open interest while State Bank of India saw a contraction. The India Volatility Index increased slightly. - Short covering was seen in stocks like HCL Technologies and UPL, while shorting increased in Reliance Industries and ACC. Long positions were liquidated in HDIL and PowerGrid.

1. Nifty Options - OI Distribution
 The Nifty was down by 14.80 points or 0.18% to
settle at 8,398.00.
 As per the OI data, the maximum OI outstanding
for Calls was at 8400 SP and that for Puts was at
8300 SP. Besides, for intraday purpose, one could
Buy NIFTY with SL of 8370 for Target of 8470-
8500.
 Nifty January 2017 futures closed at 8408.50 on
Tuesday at a premium of 10.50 points over spot
closing of 8398.00.
 Among Nifty calls, 8400 SP from the January month
expiry was the most active call with an addition of
40 thousand open interests. Among Nifty puts,
8400 SP from the January month expiry was the
most active put with an addition of 8.4 thousand
open interests.
 Nifty January futures saw a contraction of 4.5 Lakh
units, taking the total outstanding open interest to
1.96 Cr. units.
 Among most active underlying, Reliance Industries
witnessed an addition of 16.3 Lakh units of Open
Interest in the January month futures contract,
followed by State Bank of India witnessing a
contraction of 17.4 Lakh units of Open Interest in
the January month contract, Punjab National Bank
witnessed an addition of 25.5 Lakh units of Open
Interest in the January month contract.
 The top gainers on Nifty were NTPC up by 3.08%,
Asian Paints up by 2.60%, Axis Bank up by 2.12%,
Hero MotoCorp up by 1.96% and Hindustan
Unilever up by 1.50%.On the flip side, Reliance
Industries down by 3.37%, Adani Ports & Special
Economic Zone down by 1.98%, Coal India down by
1.93%, ONGC down by 1.54% and Grasim
Industries down by 1.05% were the top losers.
Nifty Options – Change in OI
Highlights
FII & DII Derivative Statistics
18th Jan’17
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
7800 7900 8000 8100 8200 8300 8400 8500 8600 8700
Call Put
Buy Value Sell Value Net Value
FIIs 3,449 3,306 142
DIIs 2,096 2,703 (607)
Net Value
Net Value 43,207 43,646 (438)
Index Futures 1,620 1,790 (170)
Index Options 30,510 30,533 (23)
Stock Futures 6,978 7,283 (305)
Stock Options 4,099 4,040 59
Provisional FIIs & F&O Market (Rs. Cr)
Provisional Cash Market (Rs. Cr)
-300000
-200000
-100000
0
100000
200000
300000
400000
500000
600000
7800 7900 8000 8100 8200 8300 8400 8500 8600 8700
Call Put

2. Derivative Strategy Pay- Off Chart
 The India Volatility Index increased by 2.17% and
reached 15.39.
 The Nifty Put Call Ratio (PCR) finally stood at 1.45 for
January month contract.
 The top five scrips with highest PCR on OI were
Marico (2.63), Dabur India (2.29), Pidilite Industries
(2.05), Maruti Suzuki India (1.73) and Ajanta Pharma
(1.60).
India VIX v/s Nifty Chart
18th Jan’17
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
Short Covering
Symbol Close Price Chng % OI Chng % Buy Above
HCLTECH 838.35 0.64 -13.57 843.97
UPL 734.15 4.28 -5.96 745.88
TCS 2272.50 0.53 -5.26 2283.25
KSCL 472.35 3.85 -4.66 482.49
Short Built Up
Symbol Close Price Chng % OI Chng % Sell Below
RELIANCE 1044.65 -3.31 9.76 1033.02
ACC 1334.15 -0.11 8.08 1325.36
COALINDIA 307.60 -1.69 7.89 304.79
CESC 682.35 -1.29 7.41 677.46
Long Liquidation
Symbol Close Price Chng % OI Chng % Sell Below
HDIL 63.60 -1.93 -11.38 62.84
PFC 137.45 -0.79 -5.27 135.90
POWERGRID 198.15 -0.55 -5.23 196.28
ICIL 180.40 -1.56 -4.44 178.32
Long Built Up
Symbol Close Price Chng % OI Chng % Buy Above
SRF 1661.90 1.89 16.38 1686.41
UBL 830.65 1.91 5.16 848.11
PNB 129.80 1.17 4.86 130.95
RELCAPITAL 464.40 2.36 4.31 469.16
HINDUNILVR Long Combo

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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Research Associate
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18th Jan’17
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: 2017.01.18 08:55:44 +05'30'