Choppy Day: April
11, 2012
Amidst choppiness in the market Nifty April Futures closed
at 5251.35 down by 14.80 points. Bank Nifty closed at 10266.45 up by 31 points.
Volumes were higher than yesterday and stood at Rs1.15 trillion. Open Interest
saw a marginal improvement of 1.70 lakh shares at 1.94 Cr shares. Put Call
Ratio improved to 0.98 from 0.92 levels. Dollar Rupee duo was trading at 51.65
and Volatility as measured by India VIX was trading at 22.29 up by 2%.
In my analysis, it seems that we will be breaking this range
bound movements in coming days and that too probably on higher side. I base my
assumptions on 2 factors, one that volatility is at the lower end of the range
and will move towards its mean and second Put Call Ratio is steadily rising and
once it shot up above 1, momentum will gather, But still this are early days
and we need to watch the behavior of price for couple of days. Till that time
it is advisable to Buy in dips until it breaks 5150 for the probable target of
resistance zone which is placed around 5550-5600 levels.
Top five individual stocks which gained today were FINANTECH
6%, JETAIRWAYS 5%, HINDOILEXP 4%, MAX 3% and HEXAWARE 3%.
Top five individual stocks which lost ground were INDIACEM
-8%, NAGAROIL -7%, CENTURYTEX -6%, RELCAPITAL -5% and ACC -5%.
Top five individual stocks which attracted higher volumes
were SBIN, ICICIBANK, TATASTEEL, RELIANCE and AXISBANK.
Top five individual options which attracted higher activity
today were SBIN 2200 CE, SBIN 2300 CE, SBIN 2150 CE, SUZLON 25 CE and RELIANCE
740 CE.
Nifty option series where POSITIVE
change in open interest was seen were 5200 CE (5.89 LK) 5300 CE (9.09 LK) 5400
CE (6.84 LK) 5500 CE (3.96 LK) 4700 PE (1.16 LK) 4900 PE (2.35 LK) 5000 PE
(2.35 LK) 5000 PE (7.77 LK) 5100 PE (6.58 LK) 5200 PE (5.63 LK)
Nifty option series where NEGATIVE change in open interest
was seen were 6000 CE (2.42 LK) 4500 PE (1.11 LK)
Outstanding open interest in Out of the Money Call Options stood at 2.67 Cr shares and that of
Put Options stood at 3.18 Cr shares. Outstanding open interest in In the Money Call Options stood at 61.07
LK shares and that of Put Options stood at 81.82 LK shares. Put Call Ratio of
current series alone stands at 1.15.
Happy Trading
Atul Doshi
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