Resilient Day: January 16, 2012
Nifty January Futures after opening weaker saw some strength at the end and managed to close above by 12.90 points at 4891.10. Bank Nifty too managed to close above by 3 points at 8961.60 points. Volumes on both Futures and Options market were lower than yesterday. Open Interest was also flat with almost no change. Put Call Ratio too came down bit lower at 0.96. Volatility as measured by India VIX was up by 3% at 24.57. All in all it was a day of consolidation with upward bias.
My prognosis remains unchanged. As long as Nifty manages top remain above 4665, it has a chance to touch 4906, 5050 and 5135. Beyond 5135 it seems bit difficult looking to long term trajectory of price behavior as also historical movements of price in Nifty. My advise is to hold on your longs till 5050- 5100 level with stop below 4665 and if you could take bit larger risk than 4550.
Top five individual stocks which gained today were ADANIENT 10%, ABAN 10%, HINDOILEXP 7%, JSWISPAT 7% and BATAINDIA 5%.
Top five individual stocks which lost ground were IGL -7%, DELTACORP -5%, HOTELEELA -4% RPOWER -3% and JISLJAL -3%.
Top five individual stocks which attracted higher volumes were SBIN, ICICIBANK, TATASTEEL, RELIANCE and TATAMOTORS.
Top five individual options which attracted higher activity today were SBIN 1800 CE, INFY 2700 CE, TATASTEEL 420 CE, SBIN 1700 PE and SBIN 1850 CE.
Nifty option series where POSITIVE change in open interest was seen were 4900 CE (3.17 LK) 5000 CE (1.98 LK) 5100 CE (1.89 LK) 4600 PE (3.85 LK) 4700 PE (2.97 LK) 4800 PE (9.37 LK) 4900 PE (4.41 LK) 5000 PE (1.46 LK)
Nifty option series where NEGATIVE change in open interest was seen were 5500 CE (-1.11 LK) 4500 PE (-1.67 LK)
Outstanding open interest in Out of the Money Call Options stood at 2.87 Cr shares and that of Put Options stood at 4.65 Cr shares. Outstanding open interest in In the Money Call Options stood at 85.97 LK shares and that of Put Options stood at 70.08 Lk shares.
Happy Trading
Atul Doshi
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