Most Boring Session: 08.11.2011
It was most boring session in recent past. Probably it was far better to watch Ra.One for second time than to watch today's trading screen. Nifty November Futures closed flatly at 5315.55 barely down by 1.3 points. Bank Nifty too didn't saw any movement closing at 9904.05 marginally up by 22.45 points. Trading volumes were lower than yesterday though we saw a sharp jump in Nifty November Futures open Interest. It saw a increase of 6.50 lac shares across all the series. Bank nifty saw reduction in Open Interest by 33 k shares. Put Call Ratio was steadily rising and it stood at 1.07. Volatility as measured by India VIX too was stable at 23.71. All in all it was a lackluster day even when we opened after 3 days of vacation.
Individual Stock Futures which attracted high volumes today were SBIN, ICICIBANK, TATAMOTORS, BSNKINDIA and RELIANCE. Top gainers list included JAINIRRI 9% HINDOILEXP 8% JPPOWER 6% APOLLOTYRE 6% and ABB 5%. Top losers list included TRIVENI -4% BANKINDIA -4% AUROPHARMA -4% ORIENTBANK -4% and IBREALEST -4%.
Individual Stock Options where higher volumes were seen were SBIN 2000 CE, SBIN 2100 CE, SBIN 2050 CE, SBIN 1900 PE and RELIANCE 900 CE.
Nifty Option Series where increase in Open Interest was seen were 5300 CE (9.5 lac) 5400 CE (7.4 lac) 5500 CE (2.9 lac) 4800 PE (10 lac) 4900 PE (3 lac) 5000 PE (3.8 lac) 5300 PE (4.3 lac) Nifty Option Series where decrease in Open Interest was seen were 4700 PE (-4.1 lac) 5200 PE (-1 lac) Out of the Money Open Interest in Put Options was 3.98 Cr shares and that of Call Option was 1.98 Cr shares. In the Money Open Interest in Put Option was 29 lac shares and that of Call Option was 1.16 Cr shares.
To conclude, we are trading in a range and day by day this range is narrowing. Normally such things don't last too long especially when global events has potential to influence our markets. As said in yesterday's post so long as we are able to hold 5200 on broad basis there is a chance that we may touch 5340 & 5405 which are 200 DMA (exponential and simple) respectively. Once we are able to cross this level and sustain for few days with good volumes, probability is there that we might take out 5760. But this are early days as long term averages are always a stiff resistance. As of now, watch technical levels very carefully and try to trade a range till we see some meaningful breakout.
Happy Trading
Atul Doshi
It was most boring session in recent past. Probably it was far better to watch Ra.One for second time than to watch today's trading screen. Nifty November Futures closed flatly at 5315.55 barely down by 1.3 points. Bank Nifty too didn't saw any movement closing at 9904.05 marginally up by 22.45 points. Trading volumes were lower than yesterday though we saw a sharp jump in Nifty November Futures open Interest. It saw a increase of 6.50 lac shares across all the series. Bank nifty saw reduction in Open Interest by 33 k shares. Put Call Ratio was steadily rising and it stood at 1.07. Volatility as measured by India VIX too was stable at 23.71. All in all it was a lackluster day even when we opened after 3 days of vacation.
Individual Stock Futures which attracted high volumes today were SBIN, ICICIBANK, TATAMOTORS, BSNKINDIA and RELIANCE. Top gainers list included JAINIRRI 9% HINDOILEXP 8% JPPOWER 6% APOLLOTYRE 6% and ABB 5%. Top losers list included TRIVENI -4% BANKINDIA -4% AUROPHARMA -4% ORIENTBANK -4% and IBREALEST -4%.
Individual Stock Options where higher volumes were seen were SBIN 2000 CE, SBIN 2100 CE, SBIN 2050 CE, SBIN 1900 PE and RELIANCE 900 CE.
Nifty Option Series where increase in Open Interest was seen were 5300 CE (9.5 lac) 5400 CE (7.4 lac) 5500 CE (2.9 lac) 4800 PE (10 lac) 4900 PE (3 lac) 5000 PE (3.8 lac) 5300 PE (4.3 lac) Nifty Option Series where decrease in Open Interest was seen were 4700 PE (-4.1 lac) 5200 PE (-1 lac) Out of the Money Open Interest in Put Options was 3.98 Cr shares and that of Call Option was 1.98 Cr shares. In the Money Open Interest in Put Option was 29 lac shares and that of Call Option was 1.16 Cr shares.
To conclude, we are trading in a range and day by day this range is narrowing. Normally such things don't last too long especially when global events has potential to influence our markets. As said in yesterday's post so long as we are able to hold 5200 on broad basis there is a chance that we may touch 5340 & 5405 which are 200 DMA (exponential and simple) respectively. Once we are able to cross this level and sustain for few days with good volumes, probability is there that we might take out 5760. But this are early days as long term averages are always a stiff resistance. As of now, watch technical levels very carefully and try to trade a range till we see some meaningful breakout.
Happy Trading
Atul Doshi
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