Daily News of Market Derivatives Trading Report by Epic Research on 17 July 2014

MARKET ROUNDUP
The Indian equity market ended at a day’s high extending the rally for second consecutive trading session after the  Reserve Bank of India relaxed financing norms for infrastructure development and affordable housing. The rally was so  intense that not a single sectoral index on the BSE ended in the red. The Realty index led from the front, up 4.2% followed by BSE Banking and the Metals index up 2.5%.
IDFC, DLF, ICICI Bank, Hindalco, Axis Bank, SBI, NMDC, Tata Steel, Maruti, M&M, Reliance, Jindal Steel, BPCL,  BHEL and Kotak Bank were among gainers in Nifty.
GAIL, Asian Paints, Bajaj Auto, Coal India, HDFC, Wipro, Bharti Airtel , Ambuja Cement PNB, Cipla , TCS

F&O HIGHLIGHTS
Post a positive start, the follow up momentum continued on Wednesday as well where apart from IT all major indices witnessed buying. After the sharp spike in the last hour of the trade, the index finally ended adding another 100 points. The premium increased and settled at 19 points. India VIX fell 0.25% and settled at 14.73
FIIs bought 622 crore while DIIs sold 48 crore in the cash segment. FIIs sold 25 crore in index futures and bought 1238 crore in index options. In stock futures, they bought 741 crore
The highest Put base stands at the 7500 strike with over 61 lakh shares. The highest Call base stands at the 8000 strike with over 89 lakh shares. The 7600 and 7700 Call strikes have seen reduction of 4.52 and 2.71 lakh shares, respectively. On the Put side, 7500 and 7600 strikes have seen addition of 12.10 and 8.75 shares, respectively

INDEX OUTLOOK
Nifty Future: The Nifty is likely to open flat to positive on the back of strong global cues. It is likely to trade in the range of 7580-7700. The trading strategy would be to create longs near7608-7613 for targets of 7645 and 7665. On the other hand, one can enter shorts if the index finds resistance near 7700
Bank Nifty Future: The outperformance is likely to continue up to 15500. On the lower side, supports are pegged at 15100 levels

INTRADAY STRATEGY

i) ADANI ENTERPRISES LTD(ADANI)

Buy ADANI ENT July fut in range of 455-456
View : Bullish
Strategy : Buy Future
Target1 459 Target 2 : 462
Stop loss : 452
Market Lot : 1000 CMP : 451.40

ii) POWER FINNCE CORPORATION LTD(PFC)
Sell PFC July fut in range of 275-274
View :Bearish
Strategy : Sell Future
Target 1 : 272.50 Target 2 : 271
Stop loss : 277.50
Market Lot : 2000 CMP : 280.25

STOCK ANALYSIS
OI addition : We saw long build-up in Zeel, M&M, Adaniport, Tata steel and Axis bank while short build up was seen in Pfc, Rec ltd, Hdfc, Wipro and lic housing finance
OI Shedding : We saw short covering in Kotak bank, Bhartiartl,Icici bank, Hdfc bank and Idea while long closure was seen in Colpal

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