MARKET EYE-Nifty may inch towards 6,200 in Jan-options traders

Tue Jan 1, 2013 11:49am IST

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A statue of Ganesh, the deity of prosperity, is carried in a taxi to a place of worship on the first day of the ten-day-long Ganesh Chaturthi festival in Mumbai August 29, 2014. REUTERS/Danish Siddiqui

Ganesh Chaturthi Festival

During Ganesh Chaturthi idols will be taken through the streets in a procession accompanied by dancing and singing, and will be immersed in a river or the sea in accordance with Hindu faith.  Slideshow 

* Option traders see a probability of India's 50-stock index
 or Nifty, which is up 0.7 percent at 5,949 points,
inching closer to 6,200 levels in the January derivative series
which ends on January 31.
* Nifty January 6,200 call added positions worth
$101 million on Monday alongside an increase in NSE's volatility
index or India VIX, signifying buying action, UBS said
in a note.
* 6,200 January call is 1 million shares away from commanding
the highest open interest among Nifty calls, compared to 6,000
call, which holds 5.5 million shares in
outstanding positions, as of December 31, as per NSE data.
* Positions in put options on Nifty imply support at 5,800
level, traders added.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.reuters.com@reuters.net)
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