Another Day of Consolidation: 22 December 2011
Nifty December Futures after opening weak ended with positive close at 4748.90 up by 37.4 points. Bank Nifty December Futures too acted in similar fashion giving a close of 8393.25 up by 194.40 points. Volumes were higher than yesterday. Open Interest in Nifty Futures across all series was up by 4.46 lk shares though it came down by 8.38 lk shares. Put Call Ratio was fairly steady at 0.86 and Volatility as measured by India VIX too came down to 26.84 down by 3%. Dollar Rupee pair was trading at 52.75 fairly steady. All in all it was a day of consolidation.
My prognosis for long term still remains bearish. In short term, as expressed in yesterday’s post if we are able to close higher today and if we move above 4800 on closing basis there is a chance that we might touch 5000. I will go with same stance for coming days. As of now it seems that 4550 is acting as an extremely short term support. Let us see how week end day pans out.
Top five individual stocks which attracted higher volumes were SBIN, ICICIBANK, TATASTEEL, AXISBANK and LT.
Top five individual options which attracted higher activity today were SBIN 1700 CE, SBIN 1650 CE, SBIN 1600 PE, TATASTEEL 360 CE and ICICIBANK 700 CE.
Top five individual stocks which gained today were ASHOKLEY 12%, DELTACORP 12%, VIPIND 11%, BAJAJHIND 8% and EKC 8%.
Top five individual stocks which lost ground were MPHASIS -5%, ABIRLANUVO -4%, RECLTD -4% SRTRANSFIN -3% and WIPRO -3%.
Nifty option series where POSITIVE change in open interest was seen were 4800 CE (9.82 LK) 4900 CE (3.79 LK) 5000 CE (1 LK) 4400 PE (2.41LK) 4500 PE (3.36 LK) 4600 PE (5.55 LK) 4700 PE (5.84 LK) 4800 PE (8.14 LK)
Nifty option series where NEGATIVE change in open interest was seen were 4500 CE(-4.82 LK) 5200 CE (-2.48 LK) 5300 CE (-2.30 LK) 4300 PE (-6.50 LK)
Outstanding open interest in Out of the Money Call Options stood at 4.96 Cr shares and that of Put Options stood at 3.99 Cr shares. Outstanding open interest in In the Money Call Options stood at 1 Cr shares and that of Put Options stood at 1.35 Cr shares.
Happy Trading
Atul Doshi
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