Derivatives Daily Update: April 25 2012

Listless Day: April 25, 2012

Nifty April Futures closed lower at 5198.60 down by 25.75 points. Bank Nifty too closed lower by 60.85 points at 10167.25. Turnover was higher at Rs 1.99 trillion obviously due to roll over activity. Open Interest in Nifty across all series shot up nearly 24 lakh shares at 2.66 Cr shares. Put Call Ratio was fairly stable at 1.01. Volatility as measured by India VIX was down by 2% at 18.94 probably lowest of recent past and definitely lower of this series. Dollar Rupee duo was trading slightly subdued at 52.61. All in all it was listless day with larger activity seen in shifting of positions from current series to new series.

My view in Nifty is still bullish. As said in several earlier posts as long as Nifty survives 5150 every dip in the market needs to be bought. In my opinion potential target is still 5550-5600. Tomorrow is expiry day let us see how Nifty manages to close.

Top five individual stocks which gained today were BFUTILITIE 10%, MCDOWELL 9%, IVRCLINFRA 5%, BALRAMCHIN 4% and APIL 3%.

Top five individual stocks which lost ground were WIPRO -7%, IRB -5%, INDIAINFO -5%, PETRONET -5% and INDIACEM -5%.

Top five individual stocks which attracted higher volumes were SBIN, AXISBANK, ICICIBANK, RELIANCE and TATASTEEL.

Top five individual options which attracted higher activity today were TCS 1150 CE, INFY 2300 CE, TCS 1100 PE, TCS 1200 CE and INFY 2200 PE.

Nifty option series where POSITIVE change in open interest was seen were 5100 CE (3.93 LK) 5200 CE (1.93 LK) 5300 CE (6.18 LK) 5100 PE (9.23 LK)

Nifty option series where NEGATIVE change in open interest was seen were 5400 CE (2.71 LK) 5500 CE (2.40 LK) 4900 PE (1.69 LK) 5200 PE (6.49 LK) 5300 PE (3.59 LK)

Outstanding open interest in Out of the Money Call Options stood at 2.85 Cr shares and that of Put Options stood at 3.22 Cr shares. Outstanding open interest in In the Money Call Options stood at 59.99 LK shares and that of Put Options stood at 50.96 LK shares. Put Call Ratio of current series alone stands at 1.10.

Happy Trading

Atul Doshi