Bulls Day: January 10, 2012
Today was Bulls Day. Nifty after opening stronger continued with its bull ride and closed at 4870.30 up by 118.50 points. Bank Nifty too followed the trend and closed at 8759.95 up by 313.70 points. Volumes were beautifully higher than yesterday both in Futures & Options markets. Open Interest in Nifty Futures across all series was high by whooping 18.85 lk shares. Put Call Ratio too improved to 0.98 from yesterday’s level. Volatility as measured by India VIX was down by 7% to 24. Dollar Rupee pair was trading at 51.95 weak from yesterday’s level.
From perusal of data it seems that it was a perfect day for Bulls. Positive price movement coupled with increase in Open Interest, higher volumes, .reduced volatility and weak dollar all in a single day could be the best bull case scenario that even hard core bull would not have anticipated. It seems that short term bull scenario will play in the market which might take us to level of 4900 and there after to 5070 but it will be difficult to surpass 5135. Till that time ride the bull wave with trailing stops.
Top five individual stocks which attracted higher volumes were SBIN, DLF, RELIANCE, ICICIBANK and TATASTEEL.
Top five individual options which attracted higher activity today were SBIN 1700 CE, SBIN 1750 CE, RELIANCE 740 CE, SBIN 1800 CE and DLF 190 CE.
Top five individual stocks which gained today were 3IINFOTECH 15%, IRB 11%, JSWSTEEL 10% IVRCLINFRA 10% and SINTEX 10%.
Top five individual stocks which lost ground were DISHTV -2%, GUJFLUORO -1% BALRAMCHIN -1% ASIANPAINT -1% and RANBAXY -1%.
Nifty option series where POSITIVE change in open interest was seen were 4900 CE (2.39 LK) 5000 CE (8 LK) 5100 CE (5.10 LK) 5200 CE (5.79 LK) 4400 PE (5.19 LK) 4500 PE (3.56 LK) 4600 PE (12/61 LK) 4700 PE (12.92 LK) 4800 PE (24.54 LK) 4900 PE (7.41 LK) 5000 PE (3.71 LK)
Nifty option series where NEGATIVE change in open interest was seen were 4500 CE (1.24 LK) 4600 CE (-2.37 LK) 4700 CE (-4.11 LK) 4800 CE (-5.25 LK) 4300 PE (-8.55 LK)
Outstanding open interest in Out of the Money Call Options stood at 2.72 Cr shares and that of Put Options stood at 4.50 Cr shares. Outstanding open interest in In the Money Call Options stood at 95.45 LK shares and that of Put Options stood at 55.52 Lk shares.
Happy Trading
Atul Doshi
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