Bulls Day: January 17, 2012
Nifty January Futures after opening strong continued its upward journey making higher top higher bottom and finally closing at 4977 up by 85.90 points. Bank Nifty too followed the trend and closed at 9078.45 up by 116.85 points. Volumes were higher than yesterday on both Futures and Options segment of the market. Substantial up tick was seen in Open Interest in January Futures by 20.42 lakh shares at 2.73 Cr shares. Put Call Ratio too was marvelously up at 1.16 from 0.96. Volatility as measured by India VIX was at 22.61 down by 6%. Dollar Rupee pair was trading at 50.95 in January Futures. All in all it was a day of Bull.
Analysis of data rules in favor of Bulls. Put Call Ratio figures indicate lot of In the Money call unwinding and Out of the Money put writing which indicates market players are gaining confidence and expecting Nifty to move higher from this levels which again is supported by reduced volatility, increased volumes and increased Open Interest. If global markets close better today, there are fair chance we might cross 5000 levels tomorrow and inch upwards towards a resistance zone of 5100-5150. My advise is to hold on your longs till this resistance area and watch whether Nifty is able to break this resistance or not.
Top five individual stocks which gained today were MARUTI 10%, JETAIRWAYS 10%, HDIL 7%, VOLTAS 7% and JUBLFOOD 6%.
Top five individual stocks which lost ground were ESSAROIL -10%, TRIVENI -5%, CHAMBLFERT -4%, DISHTV -4% and BALRAMCHIN -4%.
Top five individual stocks which attracted higher volumes were RELIANCE, SBIN, ICICIBANK, TATASTEEL and TATAMOTORS.
Top five individual options which attracted higher activity today were RELIANCE 740 CE, TCS 1100 PE, TCS 1150 CE, RELIANCE 760 CE and SBIN 1900 CE.
Nifty option series where POSITIVE change in open interest was seen were 5000 CE (3.06 LK) 5100 CE (12.68 LK) 5200 CE (3.66 LK) 5300 CE (1.14 LK) 4800 PE (8.32 LK) 4900 PE (27.61 LK) 5000 PE (15.51 LK) 5100 PE (4.79 LK)
Nifty option series where NEGATIVE change in open interest was seen were 4500 CE (-1.41 LK) 4600 CE (-1.57 LK) 4700 CE (-4.81 LK) 4800 CE (-6.26 LK) 4900 CE (-7.58 LK) 4300 PE (-1.15 LK) 4400 PE (-2.24 LK)
Outstanding open interest in Out of the Money Call Options stood at 2.50 Cr shares and that of Put Options stood at 5.19 Cr shares. Outstanding open interest in In the Money Call Options stood at 1.18 Cr shares and that of Put Options stood at 58.86 Lk shares.
Happy Trading
Atul Doshi
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