Day of Sideways Move: 31.10.2011
Nifty November Futures closed at 5347.10 down by 38.4 points and Bank Nifty Futures closed at 10016.70 up by 56.80 points. Activity was largely subdued as traded volumes in Nifty Futures were lower than yesterday, on the contrary Bank Nifty attracted better volumes as they were higher than yesterday. Open Interest picture too was dismal as it was marginally up by 2.60 lac shares in Nifty Futuresand was lower by 85 k in Bank Nifty Futures. Put Call Ratio too came down at 1.08 lower than yesterday as Put writers were bit weary in the market to write puts.
Individual Stock Futures which attracted higher volumes were SBIN, ICICIBANK, HINDUNILVR, MARUTI, TATASTEEL. Top gainers were VIJAYABANK 9% HINDUNILVR 7% INDIANBANK 6% DENABANK 6% and UCOBANK 6%. top losers were GITANJALI -5% ORIENTBANK -5% HINDALCO -4% STER -4% TATAMOTORS -4%.
Individual Stock Options which attracted higher activity were HINDUNILVR 380 CE, ICICIBANK 940 CE, ICICIBANK 960 CE, SBIN 2000 CE, RELIANCE 900 CE.
Nifty Option Series where Positive change in Open Interest was seen were,5400 CE (8 lac) 5500 CE (8 lac) 4400 PE (4 lac) 5200 PE (7lac) 5300 PE (5 lac) Open Interest of Out of the Money Put Option was 3.50 Cr and Call Option was 1.5 Cr. Open Interest of In the Money Put Option was 34 lac and Call option was 1.05 Cr.
In conclusion, looking to today's sideways movement, I would like to stick to my opinion which I expressed in yesterday's post. my view on long term basis is still bearish but in short term you have an opportunity to make some bucks by buying with strict stop loss as long as Nifty remains above 5240. But in my opinion, still big money can be made by shorting the Nifty with stop above 5500.(for details on which I have based my opinion, refer to yesterday's post.)
Happy Trading,
Atul Doshi
Nifty November Futures closed at 5347.10 down by 38.4 points and Bank Nifty Futures closed at 10016.70 up by 56.80 points. Activity was largely subdued as traded volumes in Nifty Futures were lower than yesterday, on the contrary Bank Nifty attracted better volumes as they were higher than yesterday. Open Interest picture too was dismal as it was marginally up by 2.60 lac shares in Nifty Futuresand was lower by 85 k in Bank Nifty Futures. Put Call Ratio too came down at 1.08 lower than yesterday as Put writers were bit weary in the market to write puts.
Individual Stock Futures which attracted higher volumes were SBIN, ICICIBANK, HINDUNILVR, MARUTI, TATASTEEL. Top gainers were VIJAYABANK 9% HINDUNILVR 7% INDIANBANK 6% DENABANK 6% and UCOBANK 6%. top losers were GITANJALI -5% ORIENTBANK -5% HINDALCO -4% STER -4% TATAMOTORS -4%.
Individual Stock Options which attracted higher activity were HINDUNILVR 380 CE, ICICIBANK 940 CE, ICICIBANK 960 CE, SBIN 2000 CE, RELIANCE 900 CE.
Nifty Option Series where Positive change in Open Interest was seen were,5400 CE (8 lac) 5500 CE (8 lac) 4400 PE (4 lac) 5200 PE (7lac) 5300 PE (5 lac) Open Interest of Out of the Money Put Option was 3.50 Cr and Call Option was 1.5 Cr. Open Interest of In the Money Put Option was 34 lac and Call option was 1.05 Cr.
In conclusion, looking to today's sideways movement, I would like to stick to my opinion which I expressed in yesterday's post. my view on long term basis is still bearish but in short term you have an opportunity to make some bucks by buying with strict stop loss as long as Nifty remains above 5240. But in my opinion, still big money can be made by shorting the Nifty with stop above 5500.(for details on which I have based my opinion, refer to yesterday's post.)
Happy Trading,
Atul Doshi
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