Derivatives Daily Update: April 24 2012

Resilient Day: April 24, 2012

Nifty April Futures closed up y 25.75 points at 5224.35. Bank Nifty closed marginally down by 9.60 points at 10228.10 points. Turnover was slightly lower at Rs 1.50 trillion. Open Interest in Nifty across all the series was smartly up 7 lac shares and stood at 2.42 Cr shares. Put Call Ratio was just under 1 at 0.99. Volatility as measured by India VIX was down by 11% at 19.25. Dollar Rupee duo was trading higher at 52.78. All in all it was a day of mixed bag where some indicators were good while some others were not good.

I remain committed to my Bullish stance as long as Nifty remains above 5150. It is advisable to buy in every dips with stop below 5150. We are almost nearing the expiry and in this expiry we have pretty much traded in a very narrow range of 200 points. Let us see what this couple of days till expiry has in offing for us.

Top five individual stocks which gained today were TCS 13%, NATIONALUM 7%, PANTALOON 5%, HEXAWARE 5% and WIPRO 4%.

Top five individual stocks which lost ground were POLARIS -7%, UNIPHOS -6%, AMBUJACEM -5%, IDEA -5% and ULTRACEMCO -4%.

Top five individual stocks which attracted higher volumes were TCS, INFY, SBIN, AXISBANK and ICICIBANK.

Top five individual options which attracted higher activity today were TCS 1200 CE, INFY 2300 CE, INFY 2400 CE, TCS 1150 PE and INFY 2200 PE.

Nifty option series where POSITIVE change in open interest was seen were 5200 CE 1.10 LK) 5300 CE (1.69 LK) 5000 PE (4.09 LK) 5200 PE (1.82 LK)

Nifty option series where NEGATIVE change in open interest was seen were 5400 CE (7.71 LK) 5500 CE (3.94 LK) 4800 PE (1.48 LK) 4900 PE (2.38 LK) 5100 PE (3.37 LK) 5300 PE (3.11 LK) 5400 PE (1.11 LK)

Outstanding open interest in Out of the Money Call Options stood at 2.85 Cr shares and that of Put Options stood at 3.21 Cr shares. Outstanding open interest in In the Money Call Options stood at 56.92 LK shares and that of Put Options stood at 57.94 LK shares. Put Call Ratio of current series alone stands at 1.10.

Happy Trading

Atul Doshi