Listless Day: January 05, 2012
Today was the second day in a row where Nifty January Futures traded extremely in a narrow band. Nifty January Futures closed almost flat at 4758.10 down by 2.1 points. Bank Nifty too traded in a band and closed at 8426.50 up by 30 points. Volumes were lower than yesterday both on Futures and Options segment of the market. Open Interest in Nifty Futures across all the series was up by 6.58 lakh shares and that of Bank Nifty was up by 1 lakh shares. Put Call Ratio improved to 1.06 from 0.99. Volatility as measured by India VIX was down by 2% at 25.91. Dollar Rupee Pair was trading lower at 53.20. All in all it was a listless day. Only noticeable thing was increase in Open Interest.
In essence, trading pattern suggests that we are trading in a range with some consolidation and will break this range in coming days. If Put Call Ratio is any indication than probability of breaking range on higher side is more evident than breaking it on lower side. Controlled Volatility along with some stability in Currency shows fear factor is bit releasing and traders are somewhat confident in the markets. All these are mere probabilities and one need to see how market pans out in coming days. To sum up, short term traders who have taken a bull punt yesterday or even today are advised to continue their buy positions with stop below 4665 and 4550. Short term bear traders are advised to look for upward break out level of 4801 to cover their partial shorts and 4950 for covering the rest. For Long term traders 5150 is the level to square off their shorts provided this level sustain for couple of days on closing basis.
Top five individual stocks which attracted higher volumes were RELIANCE, SBIN, AXISBANK, ICICIBANK and TATAMOTORS.
Top five individual options which attracted higher activity today were RELIANCE 740 CE, SBIN 1700 CE, RELIANCE 700 PE, SBIN 1800 CE and RELIANCE 720 CE.
Top five individual stocks which gained today were SRTRANSFIN 9%, WELCORP 7%, CAIRN 4%, FORTIS 4% and PNB 4%.
Top five individual stocks which lost ground were MCDOWELL -6%, GSPL -5% ADANIENT -4%, DLF -4% and NCC -4%.
Nifty option series where POSITIVE change in open interest was seen were 4800 CE (5.02 LK) 4900 CE (2.18 LK) 5000 CE (2.39 LK) 5100 CE (1.57 LK) 5300 CE (1.92 LK) 4000 PE (2.30 LK) 4100 PE (1.58 LK) 4300 PE (9.86 LK) 4500 PE (5.68 LK) 4600 PE (3.37 LK) 4700 PE (5.95 LK)
Nifty option series where NEGATIVE change in open interest was seen were 4200 PE (3.62 LK)
Outstanding open interest in Out of the Money Call Options stood at 2.74 Cr shares and that of Put Options stood at 3.53 Cr shares. Outstanding open interest in In the Money Call Options stood at 63.94 LK shares and that of Put Options stood at 65.54 Lk shares.
Happy Trading
Atul Doshi
No comments:
Post a Comment