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Market's Technical Outlok



Technical outlook

Nifty failed to sustain at higher levels and closed the session below the channel support levels and 50D-SMA. Support at 6130 levels will be crucial to stem the recent correction in Nifty.

Key highlights

Nifty Futures OI stands at 19.29m shs which has increased marginally by 0.02m shs. Nifty Jan futures settled at a premium of 34 as against a premium of 38 in the last session.
FII (Prov. Cash): Net Sell Rs.5.7b.
DII (Prov. Cash): Marginal Buy Rs.0.6b.
FII (Prov. Index Fut): Net Sell Rs.13.3b with OI increasing by INR 4.1b
FII (Prov. Stock Fut): Net Buy Rs.1.3b.

Reliance

(CMP 842, down 2%) has given a negative crossover of its 200D-SMA. It has seen delivery of 2.9m shs (10d-avg 1.3m shs) along with 7% rise in Fut OI to
14.06m shs indicating creation of short positions.

Pfc

(CMP 153, down 3%) has found support at its 200D-SMA and closed the session marginally above it. It has seen 5% rise in Fut OI to 5.9m shs indicating creation of short positions.

PSU Banks : Bankbaroda

( CMP 617, down 3%) saw 6% rise in Fut OI to 3.7m shs

Bankindia

( CMP 231, down 1%) saw 13% rise in Fut OI to 6.3m shs indicating towards
creation of short positions.

OMC’s: Bpcl

( CMP 324, down 2%) saw 4% rise in Fut OI to 3.7m shs,

Hindpetro

( CMP 222, down 2%) saw 6% rise in Fut OI to 6.9m shs and

Ioc

( CMP 200, down 2%) saw 8% rise in Fut OI to 4.9m shs indicating towards creation of short positions.

Maruti

( CMP 1846, up 2%) saw delivery of 1m shs (10d- avg 0.3m shs) along with 8% rise in Fut OI to 4.3m shs indicating towards built up of long positions.

In Jan series for Nifty, Highest Call OI is at 6300 strike with 5.3m shs up 0.4m shs and highest Put OI is at 6000 strike with 4.8m shs up 0.8m shs which has changed from 6200 (OI at 4.1m shs down 0.2m shs).

Nifty 6200 Jan CE OI increased by 0.7m shs to 2.9m shs and 5700 Dec PE saw OI rise by 0.2m shs to 3.2m shs.

ATM IV for Nifty decreased to 15% as against 15.4% in the previous session while India VIX decreased to 16.32 as against 16.50.