Dec 5000 put adds huge open interest
Published on Monday, November 23rd, 2009 at 8:52 PMAuthor: stockalert (2027 Articles)
The volumes picked up later in the day, the important thing is that in the next series we are seeing that 5,000 put has been adding huge open interest and that is pure put writing happening in. So 5,000 is an important support for the market, on the Nifty front we added 50 lakh shares in both series and the rollovers are around 30% what we have done. The November futures which were trading at about 14 point discount, we are seeing that each and every higher level there is some unwinding pressure happening in and that is why we see November futures just tipping in into the negative territory.
Some of the stocks that are to be mentioned are sugar and telecom, these were the weakest sectors of the day today, Balrampur Chini, the stock down nearly 6% with a total net addition of nearly 25 lakh shares in open interest. We are seeing fresh shorts happening in the sugar sector especially in this stock.
Bharti is down nearly 5% and there is no respite on this stock because it is adding nearly 75 lakh shares in both the series put together and the rollover at nearly 31% for this stock. The spot price interestingly for Bharti is nearly Rs 275 and we are seeing people buy nearly Rs 280 put in the options data.
Few midcaps stocks which were buzzing were Aurobindo Pharma, up nearly 10% with a huge build up of nearly 3.5 lakh shares albeit on a very small base
on this stock but the rollovers were about 47% done on this stock.
Kingfisher Airlines, particularly around at 2:30 pm, was moving up and ended up nearly 5% with a good build up of nearly 14 lakh shares. So good momentum in December futures, nearly 11.5 lakh shares seen and we are seeing the rollovers are nearly 23% on Kingfisher.
Source : MoneyControl
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