FIIs continue buying in cash market - Angel Broking

FII's continue to be net buyers in cash market segment; they were net buyers worth of Rs.744/- cr. On derivatives front they were net buyers in both index futures and in index options. In index futures significant amount of buildup in open interest was observed by them this was due to expiry and in index options some short covering was seen by them in yesterday's trade.

On options front 5900 put option has seen good amount of buildup in open interest followed by decent unwinding in 5800-5900 call option. In next series 5800-5900 put option has seen good amount of buildup in open interest in yesterday's trading session.

Rollover in both NIFTY and BANKNIFTY future is on the higher side at 53% and 48% respectively.

IRB has seen significant amount of short positions getting buildup in this series. The counter in last 2-3 trading session has seen some signs of short covering and hence we feel the counter could see further short covering bounce from current level which could take the stock to around Rs.142. Go long in January series at around Rs.126-128 levels with the stop loss of Rs.120.

Source : Equity Bulls

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