GLOBAL RESEARCH LIMITED

DERIVATIVES
W E E K L Y

21st Feb - 25th Feb 2010

“Nifty Heads Higher - Rebounds

from Oversold Zone”

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 GLOBAL RESEARCH LIMITED

DERIVATIVES
N I F T Y

Last week the Nifty Index ended with gains of 2.80% at 5458.95. On the derivatives front we
have seen that the Nifty Futures prices slipped along with an overall addition of open interest and
decline in the cost of carry, this is an indication of some shorts being built in it at higher levels. For
the coming week, Resistance for Nifty is seen at 5600/5750 whereas on the downside
immediate Support for the Index is seen at 5400-5367 levels, below these levels the next support
is seen at 5340/5277 levels.

Sentiment Indicator Nifty

W

Particulars 18th Feb. 2011 11th Feb. 2011 %Change

E

Spot Nifty 5458.95 5310.00 +2.80

E

Nifty Futures (Feb) 5453.65 5317.45 +2.56

Nifty CoC (%) -5.90 +3.93 -250.12

K

Open Interest 30985800 29489350 +5.07

L

Volume 730249 641860 +13.77

Y

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 GLOBAL RESEARCH LIMITED

DERIVATIVES
B A N K N I F T Y

Last week the Bank Nifty Index showed a smart pullback from its 10000 levels and ended with
gains of 4.80% at 10949.70. On the derivatives front we have seen that the Bank Nifty Futures
prices have ended with gains along with an overall addition of open interest and decline in the
cost of carry, this is an indication of some shorts being built at higher levels. For the coming
week, immediate Resistance for Bank Nifty is seen at 11257 levels, above this level the next
resistance is seen at 11547/11890 whereas on the downside support for the Index is seen near
10373 levels.

Sentiment Indicator Bank Nifty

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Particulars 18th Feb. 2011 11th Feb. 2011 %Change

E

Spot Bank Nifty 10949.70 10447.75 +4.80

E

Bank Nifty Futures (Feb) 10927.00 10462.75 +4.43

Bank Nifty CoC (%) -12.61 +4.03 -412.90

K

Open Interest 1208525 992150 +21.80

L

Volume 99823 91855 +8.67

Y

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 GLOBAL RESEARCH LIMITED

DERIVATIVES
C N X I T

The CNX IT Index last week ended with gains of 1.67% at 6832.05. On the derivatives front we
have seen that the CNX IT Futures prices surged along with an overall decline in open interest
and cost of carry, this is an indication that some profit booking was seen in the Index at higher
levels. For the coming week, Resistance for the Index continues to exist at 7053 levels whereas
on the downside support for the Index is seen at 6624 levels.

Sentiment Indicator CNX IT

W

Particulars 18th Feb. 2011 11th Feb. 2011 %Change

E

Spot CNX IT 6832.05 6719.65 +1.67

E

CNX IT Futures (Feb) 6835.25 6734.35 +1.49

CNX IT CoC (%) +2.84 +6.14 -53.74

K

Open Interest 14050 15200 -7.56

L

Volume 169 347 -51.29

Y

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 GLOBAL RESEARCH LIMITED

DERIVATIVES
O P T I O N S N A P

From the OI Concentration (Mar. Series) we can see that addition of maximum open interest on
the calls front is existent at 5600-5800 indicating this range to act as resistance on the upside
whereas on the put options front we can see that maximum open interest is accumulated at
5400-5200 strike indicating this range to act as support on the downside.

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