In the options segment, liquidity is a restrictive factor in many of the stocks featured in the list above. Stocks with adequate liquidity across the option chain are Infosys, IPCL, Nalco, ONGC, PNB, RIL, Reliance Caps and Satyam.
The hope of a settlement is driving the Reliance group stocks and this means that the technical perspective could alter if there are unforseen developments. The market discounts only available information and in situations like this, that is always likely to insufficient. Bear that in mind.
| Stocks with highest changes in futures OI | ||
| Stocks | % change | Future 1-m price |
| Escorts | 2171.01 | 87.4 |
| IFCI | 2085.16 | 14.75 |
| Alok Textiles | 1263.58 | 69.05 |
| Pfizer | 1257.14 | 748 |
| Nagarjuna Fert | 1104.67 | 15.15 |
| India Cements | 1025.81 | 75.35 |
| Videocon | 890.76 | 64.7 |
| SRF | 849.56 | 132.75 |
| Mah Seamless | 815.96 | 382 |
| IVRCL | 768.72 | 504.3 |
In IPCL, with spot price at 170, the stock could move till around the 180 mark. A bull-spread with long 170c (5.55) and short 180c (2.15) would cost 3.4 and pay a maximum of 6.6. In Reliance Industries, the spot is at 553 while the technical view is that the stock could move till 575. A long 560c (15) versus short 580c (8.15) costs 6.85 and could pay a maximum of 13.15.
In Reliance Capital, with spot at 209, the stock could move till 230. A long 210c (9.8) is available but there are no quotes at higher levels so, this would have to be a naked position.
In Infosys, the spot is at 2255 while the stock could move up until the 2400 mark if it manages to close above resistance at 2275. A long 2280c (37.45) versus short 2340c (17.2) costs 20 and it could pay a maximum of 40.
Disinvestment rumours led to a sudden interest in Nalco. Spot is at 146; the stock could move till around 165. It could also collapse if the rumours fizzle out. A long 150c (4.35) versus short 160c (1.45) costs about 3 and it could pay a maximum of 7.
In ONGC, a long 940c (20.4) versus short 960c (12.75) costs 7.5 and it could pay a maximum of 12.5. In Satyam, the spot is at 461 and the stock could travel upwards to around 470 before hitting resistance. A long 460c (13.25) versus short 470c (7.95) would cost 5.35 and may pay a maximum of 4.65.
