Day of Consolidation: 07 Dec 2011
Nifty December Futures managed to make higher top higher bottom today. It also managed to close above by 20.50 points at 5086.10. Bank Nifty too followed the streak and managed to make higher top higher bottom but closed marginally lower by 8.15 points at 9199.30. Volumes on all fronts were higher than yesterday. Open Interest in Nifty across all series shot up by 6.45 lk shares. Bank Nifty too showed marginal rise in Open Interest by 11 k shares. Put Call Ratio was at 0.87 almost unchanged buy Volatility as measured by India VIX shot up by 5% to 26.46. Markets were in a consolidation mode with improved participation from market players.
Top five individual stocks which attracted higher volumes were SBIN, ICICIBANK, RELIANCE, PANTALOON and TATASTEEL.
Top five individual options which attracted higher activity today were SBIN 2000 CE, SBIN 1950 CE, IFCI 27 CE, SBIN 1900 PE and TATASTEEL 420 CE.
Top five individual stocks which gained today were BOMDYEING 6%, RAYMOND 6%, NCC 6%, CESC 5% and PANTALOON 5%.
Top five individual stocks which lost ground were IBREALEST -10%, IDEA -6%, TTKPRESTIG -5%, PETRONET -5% and ONMOBILE -4%.
Nifty option series where POSITIVE change in open interest was seen were 5100 CE (3.57 LK) 5200 CE (6.34 LK) 5300 CE (9.66 LK) 5400 CE (2.89 LK) 5500 CE (3.68 LK) 4400 PE (4.72 LK) 4800 PE (4.35 LK) 4900 PE (5.90 LK) 5000 PE (4.67 LK) 5100 PE (6.17 LK) 5200 PE (2.55 LK).
Nifty option series where NEGATIVE change in open interest was seen were 4700 CE (-1.05 LK) 4300 PE (-3.94 LK) 4500 PE (-1.75 LK).
Outstanding open interest in Out of the Money Call Options stood at 3.24 Cr shares and that of Put Options stood at 5.25 Cr shares. Outstanding open interest in In the Money Call Options stood at 1.39 Cr shares and that of Put Options stood at 97.96 Lk shares.
All in all it was a day of consolidation. As expected there is some traction in market which pulls Nifty to higher levels. So long as we remain above 5025, there is a chance that we may touch 5275 which is 200 DEMA. If we manage to cross 5275 than 5350 is possible, but 5350 is very crucial as it is both 200 DMA and inflection point of falling neck line. It will be difficult for Nifty to take out this level decisively. In case Nifty manages to decisively cross this level and trade above this level for few days than 4630 should be considered as intermediate bottom and any dip there after will be an opportunity to buy. Till that time we are still in strong bear market and every unsustainable rise in the market is an opportunity to sell.
Happy Trading
Atul Doshi
No comments:
Post a Comment