Listless Day: May 21, 2012
Nifty May Futures closed mildly up by 4.95 points at
4893.90. Bank Nifty closed up by 80.55 points at 9337.35. Open Interest in
Nifty across all series saw a reduction by 2.46 lakh shares at 2.35 Cr shares. Turnover
was lower below Rs 1 trillion at Rs 979 bn. Put Call Ratio too saw a down tick
and stood at 0.85 from 0.91 levels which does not give any bullish indication. Volatility
as measured by India VIX was up by 2% at 23.92. Dollar Rupee duo was trading
higher at 55.04 indicating pressure on Rupee. In nutshell it was a listless day
with negative bias in the market.
In my opinion, as said in couple of earlier posts that we
have ended a Bull Run and possibly we are
headed downwards. Any rise from lower level is a Pull Back and must be sold
into. Any way those traders who want to punt on Bull side, bear market
correction can pull Nifty to 4965 and 5060 levels. In my opinion trader should
try to short Nifty once it stops rising intra day for possible target of 4800
and below that 4530 with stop loss placed above 4965 and 5060.
Top five individual stocks which gained today were SUZLON 7%,
RELCAPITAL 7%, BOMDYEING 7%, ARVIND 5% and TATAPOWER 5%.
Top five individual stocks which lost ground were ONMOBILE
-6%, NMDC -4%, TATACOMM -4%, SUNTV -4% and MAX 3%.
Top five individual stocks which attracted higher volumes
were SBIN, TATASTEEL, ICICIBANK, TATAMOTORS and AXISBANK.
Top five individual options which attracted higher activity
today were SBIN 2000 CE, SBIN 2050 CE, SBIN 21100 CE, SBIN 1900 PE and SBIN
1950 CE.
Nifty option series where POSITIVE
change in open interest was seen were 4900 CE (4.40 LK) 5000 CE (3.16 LK) 5100
CE (2.10 LK) 4600 PE (5.66 LK) 4800 PE (3.09 LK) 4900 PE (4.05 LK)
Nifty option series where NEGATIVE change in open interest
was seen were 4800 CE (2.15 LK) 5300 CE (1.83 LK) 5400 CE (1.12 LK) 5600 CE
(3.29 LK) 4400 PE (1.99 LK) 4500 PE (7.82 LK)
Outstanding open interest in Out of the Money Call Options
stood at 4.25 Cr shares and that of Put Options stood at 3.21 Cr shares.
Outstanding open interest in In the Money Call Options stood at 92.40 LK shares
and that of Put Options stood at 1.16 Cr shares. Put Call Ratio of current
series alone stands at 0.84.
Happy Trading
Atul Doshi
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