Listless Day: 24.10.2011
On price front, Nifty October Futures opened up at 5130.35, made a high of 5157.35, made a low of 5092.70 and finally closed at 5105.80 up by 51.80 points. Bank Nifty too opened high at 9799.70 made a high of 9928.25, made a low of 9607.40 and closed at 9653.55 down marginally by 33.50 points. It was a low trade day moving in a very narrow band.
On volume front, total no. of contracts traded were 59,32 lac and total turnover was 1.50 lac Cr more or less same as yesterday. put Call ratio stood at 1 and volatility as measured by India VIX was 25.22 down by merely 1%. Total traded quantity, no of contracts and no.of trades of Nifty across all series were less than yesterday though Open Interest saw a rise of 732550 shares.
On stock futures front, actively traded counters were SBIN, TATASTEEL, LT, RELIANCE and ICICIBANK. Top gainers were POLARIS 8%, TATAMOTORS 5% PRAJIND 5% MUNDRAPORT 4% TULIP 4%. Top losers were WELCORP -7% JAINIRRIGATION -5% ORIENTBANK -5% MRPL -5% PATELENG -4%.
On stock options front, actively traded counters were SBIN 2000 CE, SBIN 1950 CE, SBIN 1900 CE, RELIANCE 860 CE LT 1300 PE.
On nifty options front, positive change in open interest was seen in 5200 CE (836350) 5100 PE (303350) 5200 PE (861000). Negative change in open interest was seen in 5000 CE (-897700) 5100 CE (-652800) 5300 CE (-472800) 5400 CE (-151900) 4600 PE (-295000) 4800 PE (-134700) 4900 PE (-277050) Open Interest in Out of the Money call Option was 2.35 Cr shares and Put Option was 5.03 Cr shares. Open Interest in In the Money Call Option was 97.12 lac shares and Put Option was 30 lac shares.
On technical front, behavior of Nifty is extremely cautious and range bound, Today also it failed to surpass 5175 level. Formation of rounding top is bit worrisome. Supply is witnessed at higher level which restricts Nifty's upward movement. Similarly it is taking support at its short term to medium term moving averages which are placed in the region of 4975-5075 levels.
In nutshell in my opinion, we are still in downward trending market and possible breakout of range on lower side is very much possible. Even if it breaks so called resistance level of 5175, level of 5240 & 5362 are sacrosanct level which are not easily breakable. Tomorrow is last day of this expiry and even RBI Policy is scheduled for tomorrow. Resolution of Euro Crisis is also on anvil. Therefore huge volatility is expected. If you are a day trader please keep strict stop losses and watch for possible breakouts. Positional trader needs to watch market movement very closely and act only if trend reversal or trend continuation is confirmed.
Happy Trading..
Atul Doshi.
On price front, Nifty October Futures opened up at 5130.35, made a high of 5157.35, made a low of 5092.70 and finally closed at 5105.80 up by 51.80 points. Bank Nifty too opened high at 9799.70 made a high of 9928.25, made a low of 9607.40 and closed at 9653.55 down marginally by 33.50 points. It was a low trade day moving in a very narrow band.
| SYMBOL | EXPIRY | OPEN | HIGH | LOW | CLOSE | CHG |
| NIFTY | 29/09/2011 | 5130.1 | 5157.35 | 5092.7 | 5105.8 | 51.8 |
| BANK NIFTY | 29/09/2011 | 9799.7 | 9928.25 | 9607.4 | 9653.55 | -33.5 |
On volume front, total no. of contracts traded were 59,32 lac and total turnover was 1.50 lac Cr more or less same as yesterday. put Call ratio stood at 1 and volatility as measured by India VIX was 25.22 down by merely 1%. Total traded quantity, no of contracts and no.of trades of Nifty across all series were less than yesterday though Open Interest saw a rise of 732550 shares.
| SYMBOL | EXPIRY | OPEN INT | CHG IN OI | TR QTY | CONT | TRADES |
| NIFTY | 25/10/2011 | 9593600 | -3678700 | -2939250 | -58785 | -23676 |
| NIFTY | 24/11/2011 | 17294400 | 4356300 | 1270300 | 25406 | 13603 |
| NIFTY | 29/12/2011 | 1062700 | 54950 | 28850 | 577 | 388 |
| TOTAL | 27950700 | 732550 | -1640100 | -32802 | -9685 |
On stock futures front, actively traded counters were SBIN, TATASTEEL, LT, RELIANCE and ICICIBANK. Top gainers were POLARIS 8%, TATAMOTORS 5% PRAJIND 5% MUNDRAPORT 4% TULIP 4%. Top losers were WELCORP -7% JAINIRRIGATION -5% ORIENTBANK -5% MRPL -5% PATELENG -4%.
On stock options front, actively traded counters were SBIN 2000 CE, SBIN 1950 CE, SBIN 1900 CE, RELIANCE 860 CE LT 1300 PE.
On nifty options front, positive change in open interest was seen in 5200 CE (836350) 5100 PE (303350) 5200 PE (861000). Negative change in open interest was seen in 5000 CE (-897700) 5100 CE (-652800) 5300 CE (-472800) 5400 CE (-151900) 4600 PE (-295000) 4800 PE (-134700) 4900 PE (-277050) Open Interest in Out of the Money call Option was 2.35 Cr shares and Put Option was 5.03 Cr shares. Open Interest in In the Money Call Option was 97.12 lac shares and Put Option was 30 lac shares.
On technical front, behavior of Nifty is extremely cautious and range bound, Today also it failed to surpass 5175 level. Formation of rounding top is bit worrisome. Supply is witnessed at higher level which restricts Nifty's upward movement. Similarly it is taking support at its short term to medium term moving averages which are placed in the region of 4975-5075 levels.
In nutshell in my opinion, we are still in downward trending market and possible breakout of range on lower side is very much possible. Even if it breaks so called resistance level of 5175, level of 5240 & 5362 are sacrosanct level which are not easily breakable. Tomorrow is last day of this expiry and even RBI Policy is scheduled for tomorrow. Resolution of Euro Crisis is also on anvil. Therefore huge volatility is expected. If you are a day trader please keep strict stop losses and watch for possible breakouts. Positional trader needs to watch market movement very closely and act only if trend reversal or trend continuation is confirmed.
Happy Trading..
Atul Doshi.
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