Consolidation Day: January 11, 2012
Nifty January Futures closed at 4872.35 up by 2.05 points and Bank Nifty closed at 8855.85 up by 95.9 points. Today both indices traded pretty much in narrow range. Volumes in Index Futures and Options were lower than yesterday and Stock Futures and Option saw an increase in volumes. Open Interest in Nifty Futures on consolidated basis across all the series saw increase of 1.66 lk shares and that of Bank Nifty saw a decrease of 1.30 lk shares. Put Call Ratio was at 1 without much change. Volatility as measured by India VIX was 24.54 up by 2%. Dollar Rupee pair was trading at 52.13 after making a low of 51.75. All in all it was a day of consolidation with upward bias.
In nutshell, in shorter term we are on upward trajectory and any fall till 4665 and bit longer at 4550 level needs to be bought in. In longer term we are still not out of woods and 4906, 5020 and 5135 are stiff resistance and any long term upward move can be confirmed only when we are able to trade above 5135 comfortably on sustainable basis. So advice is to keep strict stops and buy any fall or alternatively if Nifty crosses 4906.
Top five individual stocks which attracted higher volumes were SBIN, DLF, RELIANCE, ICICIBANK and INFY.
Top five individual options which attracted higher activity today were INFY 3000 CE, INFY 2900 CE, INFY 2800 PE, INFY 2700 PE and SBIN 1800 CE.
Top five individual stocks which gained today were HDIL 13%, KSOILS 12%, ADANIPOWER 12%, ADANIENT 10% and IBREALEST 10%.
Top five individual stocks which lost ground were GVKPIL -3%, INDIANBANK -3%, EDUCOMP -3%, POWERGRID -3% and TCS -3%.
Nifty option series where POSITIVE change in open interest was seen were 4900 CE (10.52 LK) 5000 CE (7.49 LK) 5100 CE (5.08 LK) 5200 CE (1.06 LK) 5300 CE (1/05 LK) 4000 PE (3.85 LK) 4100 PE (2.30 LK) 4400 PE (3.09 LK) 4500 PE (2.72 LK) 4600 PE (3.03 LK) 4700 PE (4.58 LK) 4800 PE (6.26 LK) 4900 PE (4.35 LK) 5000 PE (1.41 LK)
Nifty option series where NEGATIVE change in open interest was seen were 4700 CE (-1.21 LK) 4300 PE (-3.28 LK)
Outstanding open interest in Out of the Money Call Options stood at 2.92 Cr shares and that of Put Options stood at 4.61 Cr shares. Outstanding open interest in In the Money Call Options stood at 90.76 LK shares and that of Put Options stood at 60.55 Lk shares.
Happy Trading
Atul Doshi
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