Resilient Day: 03.11.2011
Nifty November Futures closed at 5295.85 up by 15.65 points. Bank Nifty Futures closed at 9829.90 up by 5.55 points. Volumes were higher than yesterday but Open Interest came down by 3.60 lac shares across all series in Nifty Futures. Bank Nifty saw increase in Open Interest by 34k shares. Put Call Ratio drastically came down at 0.88 and Volatility as measured by India VIX stood at 24.66 marginally down from yesterday's level.
Top five Individual Stocks Futures which attracted higher volumes were STATEBANK, ICICIBANK, TATAMOTORS, RELIANCE and TATASTEEL. Top gainers were ONMOBILE 15% DHANBANK 11% SUNTV 6% ORCHIDCHEM 6% and JSWSTEEL 6%. Top losers were BAJAJHIND -6% ROLTA -3 EDUCOMP -3% JUBLFOOD -3% and SAIL -3%.
Top five Individual Stock Options which attracted higher volumes were SBIN 2000 CE SBIN 1950 CE RELIANCE 900 CE UNITECH 30 CE and SBIN 1900 PE.
Nifty Option Series where increase in Open Interest was witnessed were 5400 CE (7 Lac) 5600 CE (2.5 lac) 5700 CE (2.5 lac) 5000 PE (5.5 lac) 5100 PE (5 lac) 5200 PE (4 lac) Nifty Option Series where decrease in Open Interest was witnessed were 5500 CE (-3 lac) 4800 PE (-2 lac) 5300 PE (-2.5 lac) Out of the Money Open Interest in Put Options was 3.70 Cr shares and Call Option was 1.81 Cr shares. In the Money Open Interest in Put Option was 28 lac shares and Call Option was 1.12 Cr shares.
My prognosis of the market still remains the same. In short term Nifty is taking support at 5250-5225 level on closing basis living open opportunity to buy at current level with Stop Loss below 5225-5200 level with a price objective of 5360 and subsequently at the most 5470. On long term basis as said in earlier posts several time there is a possibility of Nifty touching 4700 levels. So watch technicals and price movements closely and make your decisions.
Happy Trading
Atul Doshi
Nifty November Futures closed at 5295.85 up by 15.65 points. Bank Nifty Futures closed at 9829.90 up by 5.55 points. Volumes were higher than yesterday but Open Interest came down by 3.60 lac shares across all series in Nifty Futures. Bank Nifty saw increase in Open Interest by 34k shares. Put Call Ratio drastically came down at 0.88 and Volatility as measured by India VIX stood at 24.66 marginally down from yesterday's level.
Top five Individual Stocks Futures which attracted higher volumes were STATEBANK, ICICIBANK, TATAMOTORS, RELIANCE and TATASTEEL. Top gainers were ONMOBILE 15% DHANBANK 11% SUNTV 6% ORCHIDCHEM 6% and JSWSTEEL 6%. Top losers were BAJAJHIND -6% ROLTA -3 EDUCOMP -3% JUBLFOOD -3% and SAIL -3%.
Top five Individual Stock Options which attracted higher volumes were SBIN 2000 CE SBIN 1950 CE RELIANCE 900 CE UNITECH 30 CE and SBIN 1900 PE.
Nifty Option Series where increase in Open Interest was witnessed were 5400 CE (7 Lac) 5600 CE (2.5 lac) 5700 CE (2.5 lac) 5000 PE (5.5 lac) 5100 PE (5 lac) 5200 PE (4 lac) Nifty Option Series where decrease in Open Interest was witnessed were 5500 CE (-3 lac) 4800 PE (-2 lac) 5300 PE (-2.5 lac) Out of the Money Open Interest in Put Options was 3.70 Cr shares and Call Option was 1.81 Cr shares. In the Money Open Interest in Put Option was 28 lac shares and Call Option was 1.12 Cr shares.
My prognosis of the market still remains the same. In short term Nifty is taking support at 5250-5225 level on closing basis living open opportunity to buy at current level with Stop Loss below 5225-5200 level with a price objective of 5360 and subsequently at the most 5470. On long term basis as said in earlier posts several time there is a possibility of Nifty touching 4700 levels. So watch technicals and price movements closely and make your decisions.
Happy Trading
Atul Doshi
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