Resilient Day: April 30, 2012
Nifty May Futures closed up by 35.65 points at 5267.85. Bank
Nifty too closed higher by 62.55 points at 10269.70 points. Turnover was lower
at Rs662 bn. Open Interest in Nifty across all the series show an up tick by
5.55 lk shares at 1.98 Cr shares. Put Call Ratio was slightly subdued at 0.95.
Volatility as measured by India VIX was up by 1% at 17.82 and Dollar Rupee duo
was trading higher at 53.05. All in all it was a low activity day with upward
bias.
In my opinion, as long as we are remaining above 5150 (cash
basis) upward bias continues with price objective of 5550-5600. We are trading
in a range from very long time and there is high probability of breaking this
range. Volatility at abysmally low level can not continue for long and it will
start moving towards its mean. Once market gathers momentum, volatility too
will increase which in turn has capability of breaking the range on either
side. Let us see what May has to deliver in coming days.
Top five individual stocks which gained today were PANTALOON
8%, INDIANB 7%, RPOWER 7%, JISLJAL 7% and TVSMOTOR 6%.
Top five individual stocks which lost ground were ORIENTBANK
-4%, IDEA -3%, GMRINFRA -3%, CENTURYTEX -3% and CHAMBALFERT -3%.
Top five individual stocks which attracted higher volumes
were SBIN, ICICIBANK, PANTALOON, AXISBANK and TATAMOTORS.
Top five individual options which attracted higher activity
today were SBIN 2200 CE, ICICIBANK 900 CE, SBIN 2300 CE, INFY 2500 CE and SBIN
2150 CE.
Nifty option series where POSITIVE
change in open interest was seen were 5300 CE (1.61 LK) 5400 CE (4.82 LK) 5500
CE (3.56 LK) 4800 PE (3.62 LK) 5100 PE (2.89 LK) 5200 PE (5.99 LK) 5300 PE
(2.87 LK)
Nifty option series where NEGATIVE change in open interest
was seen were 5200 CE (1.44 LK)
Outstanding open interest in Out of the Money Call Options
stood at 1.87 Cr shares and that of Put Options stood at 2.36 Cr shares.
Outstanding open interest in In the Money Call Options stood at 53.96 LK shares
and that of Put Options stood at 54.98 LK shares. Put Call Ratio of current
series alone stands at 1.21.
Happy Trading
Atul Doshi
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