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					 DAILY DERIVATIVES                                                                                                                                   28 February 2012

 NIFTY DAILY VIEW          :                   NSE Derivatives Market Turnover Rs: 100877 Crs Up by 16.02 %                 NIFTY PCR OI : 1.31 Vs 1.33; PCR Vol : 1.08 Vs 1.17

 NIFTY FUTURES : 5339 (-2.71%)                 FII Market Wide Open Interest Rs: 76974 Crs Up by 0.99 %                     NIFTY IV : 25.72 Vs 23.59; NIFTY HV : 24.29 Vs 21.2

 PREMIUM / DISCOUNT : 57 Vs 58                 FII Net Position in Derivatives Rs: -1274 Crs Vs 742 Crs                     NIFTY VIX : 27.38 Vs 24.82

     BULLISH - Clear uptrend seen,   MODERATELY BULLISH -Some Strength seen,   NEUTRAL -No Clear trend Seen,   BEARISH -Clear Downtrend seen,   MODERATELY BEARISH -Some Weakness seen.

     NSE NIFTY FUTURES DAILY CHART
                                                                                                                         NIFTY FUTURES HIGHLIGHTS:
                                                                                                                        Market saw biggest one-day fall since September
                                                                                                                        2011 ending nearly 3% down on Monday, amid
                                                                                                                        weak European cues, on concerns that high crude oil
                                                                                                                        prices would fuel inflation further delaying the
                                                                                                                        lowering of key rates by the central bank. Nifty
                                                                                                                        futures closed with 57 points premium as compared
                                                                                                                        to 58 points premium in previous trading session.
                                                                                                                        Nifty Futures closed at 5339 losing 2.71% with 1.7%
                                                                                                                        decrease in open interest along with 11% increase in
                                                                                                                        volumes.

                                                                                                                        FII's were sellers in Index Futures to the tune of 764
                                                                                                                        crores and were buyers in index options to the tune of
                                                                                                                        148 crores, Stock Futures were sold to the tune of 654
                                                                                                                        crores. FII's were net sellers in derivatives segment to
                                                                                                                        the tune of 1274 crores compared to buying of 742
                                                                                                                        crores in previous trading session. Derivative segment
                                                                                                                        saw 16.02% increase in turnover as compared to
                                                                                                                        previous trading session.
                                                                                                                        NIFTY OUTLOOK:
                                                                                                                        Nifty witnessed liquidation of long position with
                                                                                                                        relatively higher volumes suggesting profit booking
                                                                                                                        across the board after a spectacular rally. Markets
                                                                                                                        are expected to consolidate around current levels
                                                                                                                        with stock specific movements to continue. Nifty
                                                                                                                        may face resistance around 5360 levels while 5200
                                                                                                                        may act as good support level.
     SECURITIES IN BAN PERIOD                                        Market Indsite:
ABGShip
     SECTORIAL OPEN INTEREST
                                                                                                                        SECTOR HIGH LIGHTS:
                                                                                                                        None of the sectors were in positive territory.

                                                                                                                        Transport, Technology, FMCG, Finance and Cement
                                                                                                                        sectors saw highest builtup of short position while
                                                                                                                        Trading, Hotels, Fertilizers, Media and Metals
                                                                                                                        sectors saw liquidation of long position


                                                                                                                        SECTOR OUTLOOK:
                                                                                                                        Transport, Technology, FMCG, Finance and Cement
                                                                                                                                                          rget
                                                                                                                        sectors may continue to show some weakness.
                                                                                                                        However stock specific actions may be obseved in
                                                                                                                        broader market




Source: NSE,SeeDiff,AXISDIRECT Research
                                                                                              1
                                    Market & ANALYSIS
       STOCK FUTURES OPEN INTEREST MONITOR Indsite:
                                                                                     BULLISH
                                  LONG BUILD UP                                                                     SHORT COVERING
 Symbol           Fut Price   % Chg       Open Inst       % Chg Volume % Chg % Delv          Symbol      Fut Price % Chg     Open Inst    % Chg Volume      % Chg % Delv

 BPCL                662.15      0.86        13,58,000      15.3     3,354   40.9    15.6    WIPRO         447.15    0.49       3849000     -22.5   1,202      -5.1    31.8

 ITC                 215.15      1.29       3,02,64,000     11.1     4,631   21.5    127.3   ZEEL          126.45    0.28       3546000     -17.9    298      -44.9   -56.2

 ABB                 830.45      0.82         4,02,250       8.9     1,294   -18.6   -23.4   VOLTAS        112.05    8.63       3712000     -17.6   1,497     -10.1   105.6

 BEL               1,507.10      1.50           83,750       7.4      149    -42.5   -53.2   HINDPETRO     299.25    2.85       4650000     -14.2   3,889     51.7    249.1

 PATNI               479.60      0.09         1,86,000       5.7      425    159.2   123.0   ARVIND         81.35    1.18       5716000      -9.7   3,185     31.2    -48.7

                                                                                     BEARISH
                               LONG LIQUIDATION                                                                      SHORT BUILD UP
 Symbol           Fut Price   % Chg       Open Inst       % Chg Volume % Chg % Delv          Symbol      Fut Price % Chg     Open Inst    % Chg Volume      % Chg % Delv

 VIJAYABANK           62.35     -0.32        52,60,000      -17.5     795    -12.8    3.4    ABGSHIP        411.8    -3.55      4685000     28.8    1,759     24.6     44.9

 MCDOWELL-N          591.85     -0.56        18,57,250      -17.1    6,216   76.6    87.2    BEML          639.75    -2.24       187500     28.0     256      35.5    308.4

 OFSS              2,557.15     -2.39         2,28,750      -15.2    4,856   -48.0   -42.9   SINTEX         80.45    -9.10      7798000     20.6    2,601     32.4     83.3

 STER                116.55     -3.24       2,84,80,000     -14.8   22,997   31.7    -28.2   ALBK           176.2    -7.94      2322000     16.3    1,204     48.5     63.6

 HINDZINC            136.40     -0.40        10,88,000      -13.7     252    -29.4   26.5    ACC           1263.4    -0.19      1111500     15.5    2,208      -2.7   -17.2


STOCK FUTURE ANALYSIS:
BPCL, ITC, ABB, BEL and PATNI saw built up of Long positions while WIPRO, ZEEL, VOLTAS, HINDPETRO and ARVIND saw covering of Short positions.
                                                         Market Indsite:

 VIJAYABANK, MCDOWELL-N, OFSS, STER and HINDZINC saw liquidation of Long positions while ABGSHIP, BEML, SINTEX, ALBK and ACC saw built up
 of Short positions.

STOCKS OUTLOOK:
BPCL, ITC, ABB, BEL and PATNI may show good strength while ABGSHIP, BEML, SINTEX, ALBK and ACC may show weakness in today’s trading
session.

        NIFTY OPTION OI DISTRIBUTION & ANALYSIS                                                     SMART MONEY RATIO




Aggresive addition of open interest was observed in 5300, 5200 put Smart Money Ratio closed at 18.12 as against 16.29 in previous trading
options and also OTM call options. Current Option open interest session
distribution suggests 5300 to be crucial level to watch for Nifty




Source: NSE,SeeDiff,AXISDIRECT Research

                                                                                             2
    NSE DERIVATIVES TURNOVER              Market Indsite:




     FII DERIVATIVES ACTIVITY




     DERIVATIVE STRATEGY




Source: NSE,SeeDiff,AXISDIRECT Research
                                                      3
    CALL TRACKER (DAILY REPORT) :                                 Market Indsite:

                                                                                               CMP /
 Reco Date      Recom       Stock Future   Time Frame   Recom Price   Stop Loss Target                      Diff     Status   Closing Date        Remarks
                                                                                            Closing Price
 21-Feb-12       Long     RAYMOND           Intraday       384.5        376      400            376.0       (2.21)   Closed    21-Feb-12         Booked Loss
 22-Feb-12       Long     CHAMBLFERT        Intraday        90          88.5      93            88.8        (1.33)   Closed    22-Feb-12         Booked Loss
 22-Feb-12      Short     RENUKA            Intraday       40.25       41.75     37.5           37.5        6.83     Closed    22-Feb-12        Booked Profits
 23-Feb-12       Long     TATACOMM         1 - 3 Days      260          255      270           255.0        (1.92)   Closed    23-Feb-12         Booked Loss
 23-Feb-12      Short     TATAMOTORS       1 - 3 Days      271.5        278      258           274.0        (0.92)   Closed    23-Feb-12         Booked Loss
 23-Feb-12       Long     GAIL             1 - 2 Days      379.5        374      391           377.0        (0.66)   Closed    23-Feb-12         Booked Loss
 24-Feb-12       Long     GSPL             1 - 4 Days      77.3         74.8     81.3           75.5        (2.33)   Closed    24-Feb-12         Booked Loss
 24-Feb-12       Long     ZEEL              Intraday       127.5        124      135           131.3        2.98     Open      24-Feb-12     Part Booked @131.30




     DERIVATIVE STRATEGY




Source: NSE,SeeDiff,AXISDIRECT Research
                                                                                        4
Ms. Monali Jobanputra             Analyst - Derivatives & Quant               monali.jobanputra@axissales.in              022-2425 3471

               Analyst - TEAM
   RETAIL RESEARCHDerivatives & Quant
Mr. Suresh Babu Pyarla                                                        suresh.pyarla@axissales.in                  022-2425 3470




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