Another Good Day: January 13, 2012.
Nifty January Futures closed up by 26 points at 4878.20. Bank Nifty almost closed flat at 8958.60 up by 0.90 points. Both the indices have made higher top higher bottom. Volumes were more or less stable with Stock Futures and Index Options showing a up tick in volumes. Open Interest in Nifty Futures across all the series was higher by 7.97 lac shares showing mop up by Bulls. Bank Nifty too saw an upsurge in Open Interest by 1.48 lac shares. Put Call Ratio was at 1.02 fairly better than yesterday showing confidence of traders as they wrote more Puts than Calls. Volatility as measured by India VIX was down 2% at 23.48, again a good sign as it shows improved confidence in market. Dollar Rupee pair too was down trading at 51.75 again a very good sign for Bulls.
In nutshell, it was a good day with upsurge in price behavior coupled with increased volume & open interest and decreased volatility. In short term it seems that we might see level of 5020 and with God’s grace 5135 if we manage to cross 4906 on closing basis in couple of days. In long term it seems difficult that we will cross 5135 on sustainable basis. My advise is to buy every dip with stop below 4665 and price objective of 5020.
Top five individual stocks which gained today were JSWISPAT 13%, LITL 12%, JPPOWER 11%, MERCATOR 11% and SUZLON 10%.
Top five individual stocks which lost ground were IGL -9%, PETRONET -5%, SUNTV -4%, UNIPHOS -3% and GAIL -3%.
Top five individual stocks which attracted higher volumes were TATASTEEL, ICICIBANK, INFY, RELIANCE and SBIN.
Top five individual options which attracted higher activity today were INFY 2700 CE, SBIN 1800 CE, INFY 2600 CE, INFY 2800 CE and DLF 200 CE.
Nifty option series where POSITIVE change in open interest was seen were 5000 CE (1.03 LK) 5200 CE (3.39 LK) 4700 PE (7.94 LK) 4800 PE (12.88 LK) 4900 PE (5.73 LK) 5000 PE (1.11 LK)
Nifty option series where NEGATIVE change in open interest was seen were 4100 PE (-1.17 LK) 4200 PE (-1.29 LK) 4400 PE (-1.81 LK)
Outstanding open interest in Out of the Money Call Options stood at 2.89 Cr shares and that of Put Options stood at 4.57 Cr shares. Outstanding open interest in In the Money Call Options stood at 88.52 LK shares and that of Put Options stood at 65.33 Lk shares.
Individual Stocks which saw substantial rise in Open Interest were PETRONET 70%, IGL 43%, PATNI 30%, JPPOWER 27% and ARVIND 26%.
Individual Stocks which saw substantial decrease in Open Interest were OIL -33 %, MCDOWELL -21%, VIPIND -17%, CESC -14% and IOB -14%.
Happy Trading
Atul Doshi
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