Smart Up Day: 12.10.2011
On price chart Nifty October Future opened at 5010, made a low of 5001, smartly moved up to 5118.95 and finally closed at 5112.85 up by 130.40 points. Bank Nifty Future opened at 9250 made a low of 9185 smartly moved up to 9538 finally closed at 9499.75 up by 323.35 points.
On volume charts, Total turnover was 1.4 lac Cr, No.of contracts traded were 55.65 lac. Both total turnover and no.of contracts were higher than yesterday.Put Call Ratio was 1.09 lower than yesterday. Volatility as measured by India VIX was at 28.5 lower than yesterday. Traded quantity, no.of contracts traded and no.of trades were substantially higher than yesterday. Open Interest too was higher by 997200. For the first time on volume charts, there is an indication of Bulls returning to the market. Today rise in price is accompanied by rise in volumes as well as open interest.
On technical charts, Nifty has managed to surpass its short term moving averages of 4914 & 4962 (10 & 20 days) as well as medium term moving average of 5046 (50 days) on daily charts. Though long term trend remain bearish, opportunity of buying with stop loss of above mentioned averages has emerged for Bull trader in short term. Pull Back rally of bigger Bear trend might extend to level of 5240 and than 5362 once it crosses 5175 level.
On stock futures front, active counters on volume parameter were SBIN, INFY, ICICIBANK, RELIANCE and TATAMOTORS. Top gainers were JUBILANT FOOD 10% HEXAWARE 7% INFY 7% SBIN 7% PRAJ 6%. Top losers were SUNTV -4% COAL INDIA -3% BAJAJ HIND -2% RUCHISOYA -2% TATAPOWER -1%.
On stock options front, heavy activity was seen inSBIN 1800 CE, INFY 2500 PE, INFY 2700 CE, SBIN 1850 CE and INFY 2600 CE.
On Nifty options front, Positive change in Open Interest was seen in 5300 CE (787100) 5400 CE (500950) 4600 PE (1160550) 4700 PE (577800) 4800 PE (483250) 4900 PE (1294250) 5000 PE (1893850) 5100 PE (1809150) 5200 PE (302450). Negative change in Open Interest was seen in 4800 CE (-223050) 4900 CE (-203350) 5000 CE (-943300) 5100 CE (-479950) 5200 CE (-469500). Out of the Money Put Options were 5.50 Cr and Call Options were 1.89 Cr. In the Money Put Options were 60.26 lac. and Call Options were 1.33 Cr.
My analysis of today's data shows that for the first time since long Nifty has managed to cross its short term as well as medium term moving averages on a day when all the three things price, volume and open interest has gone up. It clearly indicates participation has returned back. It is important to see in coming days that today's move is sustainable or not. In short term it has cleared some resistance zone. Long term view still remains bearish and today's move is part of correction of larger bear trend. Bears once again attack the markets at higher levels or not needs to be watched in coming sessions. Till that time watch the screen and see that trading range of 4718-5175 on higher side is breached or not.
Happy Trading
Atul Doshi
On price chart Nifty October Future opened at 5010, made a low of 5001, smartly moved up to 5118.95 and finally closed at 5112.85 up by 130.40 points. Bank Nifty Future opened at 9250 made a low of 9185 smartly moved up to 9538 finally closed at 9499.75 up by 323.35 points.
On volume charts, Total turnover was 1.4 lac Cr, No.of contracts traded were 55.65 lac. Both total turnover and no.of contracts were higher than yesterday.Put Call Ratio was 1.09 lower than yesterday. Volatility as measured by India VIX was at 28.5 lower than yesterday. Traded quantity, no.of contracts traded and no.of trades were substantially higher than yesterday. Open Interest too was higher by 997200. For the first time on volume charts, there is an indication of Bulls returning to the market. Today rise in price is accompanied by rise in volumes as well as open interest.
| EXPIRY | OPEN INT | CHG IN OI | TR QTY | CONT | TRADES |
| 25/10/2011 | 21960700 | 997200 | 7452350 | 149047 | 40630 |
| 24/11/2011 | 1931050 | 284850 | 189400 | 3788 | 1472 |
| 29/12/2011 | 439200 | 71850 | 15500 | 310 | -20 |
On technical charts, Nifty has managed to surpass its short term moving averages of 4914 & 4962 (10 & 20 days) as well as medium term moving average of 5046 (50 days) on daily charts. Though long term trend remain bearish, opportunity of buying with stop loss of above mentioned averages has emerged for Bull trader in short term. Pull Back rally of bigger Bear trend might extend to level of 5240 and than 5362 once it crosses 5175 level.
On stock futures front, active counters on volume parameter were SBIN, INFY, ICICIBANK, RELIANCE and TATAMOTORS. Top gainers were JUBILANT FOOD 10% HEXAWARE 7% INFY 7% SBIN 7% PRAJ 6%. Top losers were SUNTV -4% COAL INDIA -3% BAJAJ HIND -2% RUCHISOYA -2% TATAPOWER -1%.
On stock options front, heavy activity was seen inSBIN 1800 CE, INFY 2500 PE, INFY 2700 CE, SBIN 1850 CE and INFY 2600 CE.
On Nifty options front, Positive change in Open Interest was seen in 5300 CE (787100) 5400 CE (500950) 4600 PE (1160550) 4700 PE (577800) 4800 PE (483250) 4900 PE (1294250) 5000 PE (1893850) 5100 PE (1809150) 5200 PE (302450). Negative change in Open Interest was seen in 4800 CE (-223050) 4900 CE (-203350) 5000 CE (-943300) 5100 CE (-479950) 5200 CE (-469500). Out of the Money Put Options were 5.50 Cr and Call Options were 1.89 Cr. In the Money Put Options were 60.26 lac. and Call Options were 1.33 Cr.
My analysis of today's data shows that for the first time since long Nifty has managed to cross its short term as well as medium term moving averages on a day when all the three things price, volume and open interest has gone up. It clearly indicates participation has returned back. It is important to see in coming days that today's move is sustainable or not. In short term it has cleared some resistance zone. Long term view still remains bearish and today's move is part of correction of larger bear trend. Bears once again attack the markets at higher levels or not needs to be watched in coming sessions. Till that time watch the screen and see that trading range of 4718-5175 on higher side is breached or not.
Happy Trading
Atul Doshi
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