8,800 is likely to act as support for Nifty this week

Nifty closed the day with half a percentage profit. The major contribution has come from Banking stocks after HDFC bank’s FDI limit is enhanced. As per our analysis, Coal India & Asian Paints have reversed the trend. Hindustan Unilever and Idea are showing sign of weakness. These stocks are likely to crack down if the down trend continues.

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Marico Limited – the open interest continue to go up

Marico Limited has been continuously adding huge number of shares in the December series futures. Over the eight calendar days, the share has added 44,52,500 shares in the open interest. On December 10th, the stock was having 15,13,200 shares but as of yesterday it has 59,65,700 shares in the open interest. The stock price is also steadily moving up. During the same period, the stock has gained 30 rupees or over 7%.

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7,900 & 8,000 December calls have added Million shares in the Open Interest

When the market has closed near flat and the current series future premium goes up a bit, there are million shares added in the slightly out of money 7,900 & 8,000 December series call options. The calls have healthy time value premium of 77.50 and 43.50 respectively, because we still have 24 calendar days for call expiry.

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Long Build Up seen in DLF, INFY, RELINFRA, WOCKPHARMA & JSWSTEEL

Nifty has ended the day by going down by 7.45 points or 0.09%. It is typical flat trading session, there is nothing to talk about it. There are lot of stock specific actions happened. The indecisive doji pattern from Candlestick chart is raising concerns about ability to hold the upper range of resistance levels. Following set of shares have raised in Price and increased the future open interest in the current December series. The raise in the price & the open interest can be considered as Long Build Up.

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