Derivatives Desk by Ms. Sneha Seth (Derivatives Analyst, Angel Broking):
"As indicated by the global market, we began today's session on a flat note. The momentum was completely missing during the day; as a result index corrected towards 10800. Post some consolidation; index concluded the boring day with a cut of 0.31%.
In Index futures front, the overall activity remained muted for both Nifty as well as BankNifty. Meanwhile, we saw some fresh open interest addition in 11000 and 11200 call options. On the other side, 10500-10800 put options added relevant positions. Maximum open interest concentration for January series remains intact in 11000 call and 10500 put option.
Since the beginning of January series, we witnessed long formation in Nifty futures and decent amount of longs rolled over are also in the system. Stronger hands too turned net buyers in equities and index futures segment on Wednesday's session. At the same time, index put writers continued adding good amount of positions in ATM strike. Considering the above data points, we maintain our positive stands on the market and expect Nifty to soon surpass 11000 mark."