The next week is a truncated one for the domestic market as the stock market remains closed on Monday, on account of Bakri-Id and again on Thursday on account of Gurunanak Jayanti. We may witness Stock-specific activity may ominate trade in the near-term with the earnings season as its peak. Investors will closely watch the management commentary at the time of announcement of Q2 September 2011 results, which will provide cues on futures earnings outlook. IDFC, ABB, Bank of India, Reliance Infrastructure and Reliance Power unveil quarterly results on Tuesday. State Bank of India, Ranbaxy Laboratories, Indian Oil Corporation, GMR Infrastructure, Power Finance Corporation and Bhushan Steel unveil quarterly results on Wednesday. DLF, Tata Steel, Hindalco Industries, Pantaloon Retail (India), Mahindra Satyam and CEAT unveil quarterly results on Thursday. Jet Airways (India), Reliance Capital, GE Shipping, Housing Development & Infrastructure and Tata Chemicals unveil Q2 results on Friday,. Coal India, National Aluminium Company and Shipping Corporation of India report Q2 results on Saturday, 12 November 2011. On the Future front, Nifty November 2011 futures were at 5317, at a premium of 32.80 points over spot closing of 5284.20. In Index Futures FII’s were net sellers to the tune of Rs.215 Cr with an open interest decrease of around Rs.240 Cr as compared to net buying to the tune of Rs.4101 Cr with an open interest increase of around Rs.388 Cr as of the previous trading week. This Indicating us some Long Unwinding in Index Futures by FII’s. Nifty Futures open interest saw a decrease of around 2.39% and Nifty Futures saw a decrease of around 1.27%: which again conforming Long Unwinding in Nifty.India VIX saw a increase of around 12.16 %, Indicating some negative for the market. On the option front, the PCR for Nifty based on open interest is down at 1.37 as compared to 1.41 last week which dicating negative for the market. High put option open interest build up of around 5.0 mn and 5.1 mn is seen at 5200 and 5100 strikes respectively which indicate that they will act as strong supports. High call option open interest ild up of around 6.0 mn and 5.3 mn is seen at 5400 and 5500 strikes respectively which Indicating that they will act as strong resistances.
NIFTY WEEKLY LEVEL
CMP-5316
R1- 5496
R2-5607
S1-5279
S2-5175
NIFTY WEEKLY LEVEL
CMP-5316
R1- 5496
R2-5607
S1-5279
S2-5175
