Choppy Day: 23 December 2011
Nifty after opening marginally up by yesterday’s close could not continue with its winning streak and gave away all its gains and closed lower at 4720.60 by 28.30 points. Bank Nifty too could not sustain and closed lower at 8292.45 by 100.80 points. Volumes were lower than yesterday instead of the fact that rollover is happening in the markets. Open Interest in Nifty Futures on consolidated basis has improved by 12 lk shares signifying that fresh shorts have been created in the market in January series. Put Call Ratio marginally improved to 0.89 from 0.86. Volatility as measured by India VIX was ruling at 27.29 up by 2%. Dollar Rupee duo was trading at 53 levels slightly up from yesterday’s level. All in all it was a choppy day with downward bias.
In my opinion, Nifty has again made a range of 4550-4750 and in coming days to expiry some direction either confirmation or short term change in bearish trend might be decided. As of now it doesn’t seem that we are pulling back to 5000 level in any hurry. Lot of choppiness, volatility and speed of price movements makes traders weary and tempts them to cover up their positions very fast. In nutshell still it is advisable to hold on to your shorts and if one can, play the range of 4550-4750.
Top five individual stocks which attracted higher volumes were SBIN, ICICIBANK, LT, TATASTEEL and RELIANCE.
Top five individual options which attracted higher activity today were SBIN 1700 CE, SBIN 1650 PE, LT 1050 CE, SBIN 1600 PE and TATASTEEL 360 CE.
Top five individual stocks which gained today were IFCI 6%, GUJFLUORO 5%, SUNTV 5%, OPTOCIRCUIT 5% and KSOILS 5%.
Top five individual stocks which lost ground were SYNDIBANK -7%, DELTACORP -6%, CESC -5%, PFC -5% and JUBLFOOD -5%.
Nifty option series where POSITIVE change in open interest was seen were 4800 CE (13.61 LK) 4900 CE (14.83 LK) 4300 PE (1.98 LK) 4400 PE (5.36 LK) 4500 PE (1.78 LK) 4600 PE (6.59 LK) 4700 PE (12 LK)
Nifty option series where NEGATIVE change in open interest was seen were 450 CE (-1.45 LK) 4600 CE (-2.43 LK) 5300 CE (-1.01 LK)
Outstanding open interest in Out of the Money Call Options stood at 5.13 Cr shares and that of Put Options stood at 4.10 Cr shares. Outstanding open interest in In the Money Call Options stood at 94.94 LK shares and that of Put Options stood at 1.28 Cr shares.
FII’s bought Index Futures & Index Options worth Rs 78 Cr and 4 Cr respectively and sold Stock Futures and Stock Options worth Rs 101 Cr and 6 Cr.
Happy Trading
Atul Doshi
No comments:
Post a Comment