Day of Consolidation : 18.11.2011
Taking clues from global markets Nifty November Futures opened lower and drifted down to 4845, pulled back to 4925 and finally closed at 4914.60 marginally down by 18.35 points. Bank Nifty November Futures too followed the streak opened lower, further drifted down to 8694, pull backed to 8887 and finally closed at 8859.25 marginally down by 30.90 points. Volumes on net basis across all series were higher. Open Interest in Nifty Futures on net basis showed marginal improvement though November future saw reduction in Open Interest by 14 lac shares. In short Roll Over was seen in the market. Put Call Ratio was at 1 and volatility as measured by India VIX was ruling at 26.58 marginally down from yesterday levels. All in all, it was a day of consolidation.
Top five Individual Stocks which attracted higher volumes were SBIN, ICICIBANK, TATASTEEL TATAMOTORS and RELIANCE. Five top gainers were RENUKA 10% VIPIND 9% PANTALOON 9% SAIL 8% and GVKPIL 8%. Five top losers were IVRCLINFRA -12% IFCI -8% ROLTA -7% SUZLON -7% and JSWSTEEL -6%.
Top five Individual Stock Options which attracted higher volumes were SBIN 1800 CE SBIN 1750 CE SBIN 1700 PE RELIANCE 800 CE RELIANCE 820 CE.
Nifty Option series where POSITIVE change in Open Interest was seen were 4800 CE (15.60 lac) 4900 CE (7.42 lac) 5000 CE (4.95 lac) 5100 CE (4.80 lac) 4500 PE (2.33 lac) 4600 PE (13.15 lac) 4700 PE (13.92 lac) 4800 PE (4.50 lac) Nifty Option Series where NEGATIVE change in Open Interest was seen were 5300 CE (-5.06 lac) 5400 CE (-2.48 lac) 5500 CE (-1.20 lac) 4900 PE 9-19.91 lac) 5000 PE (-17.09 lac) 5100 PE (-6.61 lac) 5200 PE (-2.24 lac) Outstanding Open Interest in Out of the Money Put Option was 2.42 Cr shares and that of Call Option was 4.07 Cr shares. Outstanding Open Interest in In the Money Put Option was 1.05 Cr shares and that of Call Option was 65 lac shares.
In substance, today was a day of consolidation where gyrations were low and some roll over activity was seen in the market. Long term view up till now remains bearish and every rise in the market is an opportunity to sell. If we find some support at 4800 -4700 range with good volumes without breaking earlier lows stance might be changed but till that time bias is downwards and once we revisit those lows, we will see how to trade further. Till that time stick to my earlier analysis expressed in several previous posts.
Happy Trading
Atul Doshi
Taking clues from global markets Nifty November Futures opened lower and drifted down to 4845, pulled back to 4925 and finally closed at 4914.60 marginally down by 18.35 points. Bank Nifty November Futures too followed the streak opened lower, further drifted down to 8694, pull backed to 8887 and finally closed at 8859.25 marginally down by 30.90 points. Volumes on net basis across all series were higher. Open Interest in Nifty Futures on net basis showed marginal improvement though November future saw reduction in Open Interest by 14 lac shares. In short Roll Over was seen in the market. Put Call Ratio was at 1 and volatility as measured by India VIX was ruling at 26.58 marginally down from yesterday levels. All in all, it was a day of consolidation.
Top five Individual Stocks which attracted higher volumes were SBIN, ICICIBANK, TATASTEEL TATAMOTORS and RELIANCE. Five top gainers were RENUKA 10% VIPIND 9% PANTALOON 9% SAIL 8% and GVKPIL 8%. Five top losers were IVRCLINFRA -12% IFCI -8% ROLTA -7% SUZLON -7% and JSWSTEEL -6%.
Top five Individual Stock Options which attracted higher volumes were SBIN 1800 CE SBIN 1750 CE SBIN 1700 PE RELIANCE 800 CE RELIANCE 820 CE.
Nifty Option series where POSITIVE change in Open Interest was seen were 4800 CE (15.60 lac) 4900 CE (7.42 lac) 5000 CE (4.95 lac) 5100 CE (4.80 lac) 4500 PE (2.33 lac) 4600 PE (13.15 lac) 4700 PE (13.92 lac) 4800 PE (4.50 lac) Nifty Option Series where NEGATIVE change in Open Interest was seen were 5300 CE (-5.06 lac) 5400 CE (-2.48 lac) 5500 CE (-1.20 lac) 4900 PE 9-19.91 lac) 5000 PE (-17.09 lac) 5100 PE (-6.61 lac) 5200 PE (-2.24 lac) Outstanding Open Interest in Out of the Money Put Option was 2.42 Cr shares and that of Call Option was 4.07 Cr shares. Outstanding Open Interest in In the Money Put Option was 1.05 Cr shares and that of Call Option was 65 lac shares.
In substance, today was a day of consolidation where gyrations were low and some roll over activity was seen in the market. Long term view up till now remains bearish and every rise in the market is an opportunity to sell. If we find some support at 4800 -4700 range with good volumes without breaking earlier lows stance might be changed but till that time bias is downwards and once we revisit those lows, we will see how to trade further. Till that time stick to my earlier analysis expressed in several previous posts.
Happy Trading
Atul Doshi
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