Lackluster Day: 27 December 2011
Nifty December Futures could not see any further traction and closed lower by 36.80 points at 4750 90. Bank Nifty too closed lower by 109.95 points at 8275.35. Volumes were higher than yesterday due to rollover activity. Put Call Ratio was at 0.93 and Volatility as measured by India VIX too closed lower at 26.29 down by 1%. Open Interest across all the series did not reveal any further shorting in new series, instead current series shredded Open Interest by 23 lk shares. Dollar Rupee December Futures was trading at 53.07 levels. In nutshell, it was lackluster day and bull unwinding was witnessed in the market.
My Prognosis is still biased towards markets moving downwards. As said in yesterday’s post, rise in price movements is not supported by volumes and positive change in Open Interest, we could see that in today’s price movement as markets closed lower than yesterday. Expiry is on Thursday and hence it is advisable to trade with cautiousness as choppiness could be expected in market. Short the Nifty with adequate Stop Loss.
Top five individual stocks which attracted higher volumes were SBIN, RELIANCE, TATASTEEL, ICICIBANK and LT.
Top five individual options which attracted higher activity today were SBIN 1700 CE, RELIANCE 760 CE, SBIN 1600 PE, SBIN 1650 PE and SBIN 1650 CE.
Top five individual stocks which gained today were RCOM 5%, JISLJAL 5%, RANBAXY 3%, TATAPOWER 3% and WELCORP 3%.
Top five individual stocks which lost ground were EKC -9%, FORTIS -7%, GUJFLUORO -7%, IBREALEST -6% and MRPL -5%.
Nifty option series where POSITIVE change in open interest was seen were 4700 CE (4.52 LK) 4800 CE (5.87 LK) 4900 CE (4.31 LK) 5000 CE (4.34 LK) 4600 PE (5.30 LK) 5100 PE (1.16 LK).
Nifty option series where NEGATIVE change in open interest was seen were 4500 CE (-1.15 LK) 4600 CE (-5.07 LK) 5100 CE (-4.73 LK) 5200 CE (-1.01 LK) 4100 PE (-1.38 LK) 4200 PE (-1.38 LK) 4500 PE (-3.39 LK) 4700 PE (-1 LK) 4800 PE (-1.95 LK) 4900 PE (-2.51 LK).
Outstanding open interest in Out of the Money Call Options stood at 5.08 Cr shares and that of Put Options stood at 3.89 Cr shares. Outstanding open interest in In the Money Call Options stood at 68.50 LK shares and that of Put Options stood at 1.34 Cr shares.
Happy Trading
Atul Doshi
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