Resilient Day: 22.11.2011
Nifty November Future opened higher than yesterday and even closed marginally higher at 4805.3 up by 22 points. Bank Nifty too followed the streak and closed at 8594.25 up by 38.30 points. After huge fall in markets yesterday, today's market were bit resilient. Traded volumes were higher than yesterday both in Nifty and Bank Nifty partly due to shifting of positions and stability in price movements.Open Interest in Nifty across all the series saw increase by 16.60 lac shares and Bank Nifty saw a decrease of 49 k shares. Put Call Ratio was stable at 0.88 and volatility as measured by India VIX closed at 27.35 down by 2%. All in all there was silence after carnage of yesterday.
Top five Individual Stocks which attracted higher volumes were SBIN ICICBANK RELIANCE TATASTEEL TATAMOTORS. Top Five Individual Stock gainers were SKUMARS 11% ONMOBILE 11% PANTALOON 9% TATAMOTORS 7% and EKC 7%. Top five Individual Stock losers were JINDALSAW -8% TITAN -6% JINDALSWHL -6% MCDOWELL -4% and ARVIND -3%.
Top five Individual Stock Options where higher activity was seen on volume parameter were SBIN 170 CE RELIANCE 800 CE SBIN 1750 CE TATASTEEL 400 CE and SBIN 1700 PE.
Nifty Option Series where POSITIVE change in Open Interest was seen were 4900 CE (2.38 lac) 5000 CE (1.40 lac) 4600 PE (2.90 lac) 4700 PE (10.66 lac). Nifty Option Series where NEGATIVE change in Open Interest was seen were 5100 CE (-3.46 lac) 5200 CE (-1.95 lac) 5300 CE (-1.78 lac) 5400 CE (-2.20 lac) 5500 CE (-1.39 lac) 4900 PE (-1.08 lac) 5000 PE (-5.41 lac) 5100 PE (-1.12 lac) 5200 PE (-2.23 lac) 5300 PE (-1.75 lac) Outstanding Open Interest in Out of the Money Put Option was2.25 Cr shares and that of Call Option was 4.41 Cr shares. Outstanding Open Interest in In the Money Put Option was 1.08 Cr shares and that of Call Option was 50.84 lac shares.
To conclude today's price movement can best be named as sideways movements. After huge carnage yesterday in price, today we saw some consolidation but yet not clear whether we have reached the bottom or not. As said in yesterday's post 4780 is 200 Week's moving average and Nifty might take some support around this level. But macro technical picture is still gloomy which might tempt Nifty to drift down lower. Probability of Nifty breaking 4700 very much exist. Expiry is near so advise is to trade cautiously with negative bias.
Happy Trading
Atul Doshi
Nifty November Future opened higher than yesterday and even closed marginally higher at 4805.3 up by 22 points. Bank Nifty too followed the streak and closed at 8594.25 up by 38.30 points. After huge fall in markets yesterday, today's market were bit resilient. Traded volumes were higher than yesterday both in Nifty and Bank Nifty partly due to shifting of positions and stability in price movements.Open Interest in Nifty across all the series saw increase by 16.60 lac shares and Bank Nifty saw a decrease of 49 k shares. Put Call Ratio was stable at 0.88 and volatility as measured by India VIX closed at 27.35 down by 2%. All in all there was silence after carnage of yesterday.
Top five Individual Stocks which attracted higher volumes were SBIN ICICBANK RELIANCE TATASTEEL TATAMOTORS. Top Five Individual Stock gainers were SKUMARS 11% ONMOBILE 11% PANTALOON 9% TATAMOTORS 7% and EKC 7%. Top five Individual Stock losers were JINDALSAW -8% TITAN -6% JINDALSWHL -6% MCDOWELL -4% and ARVIND -3%.
Top five Individual Stock Options where higher activity was seen on volume parameter were SBIN 170 CE RELIANCE 800 CE SBIN 1750 CE TATASTEEL 400 CE and SBIN 1700 PE.
Nifty Option Series where POSITIVE change in Open Interest was seen were 4900 CE (2.38 lac) 5000 CE (1.40 lac) 4600 PE (2.90 lac) 4700 PE (10.66 lac). Nifty Option Series where NEGATIVE change in Open Interest was seen were 5100 CE (-3.46 lac) 5200 CE (-1.95 lac) 5300 CE (-1.78 lac) 5400 CE (-2.20 lac) 5500 CE (-1.39 lac) 4900 PE (-1.08 lac) 5000 PE (-5.41 lac) 5100 PE (-1.12 lac) 5200 PE (-2.23 lac) 5300 PE (-1.75 lac) Outstanding Open Interest in Out of the Money Put Option was2.25 Cr shares and that of Call Option was 4.41 Cr shares. Outstanding Open Interest in In the Money Put Option was 1.08 Cr shares and that of Call Option was 50.84 lac shares.
To conclude today's price movement can best be named as sideways movements. After huge carnage yesterday in price, today we saw some consolidation but yet not clear whether we have reached the bottom or not. As said in yesterday's post 4780 is 200 Week's moving average and Nifty might take some support around this level. But macro technical picture is still gloomy which might tempt Nifty to drift down lower. Probability of Nifty breaking 4700 very much exist. Expiry is near so advise is to trade cautiously with negative bias.
Happy Trading
Atul Doshi
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