Weak Expiry: May 31, 2012
Nifty May Futures closed lower by 16.80 points at 4916.25. Bank
Nifty closed lower by 32.10 points at 9438.65 points. Open Interest in Nifty
across all the series came down by 15 lakh shares at 2.54 Cr shares. Open
Interest in Nifty in June series has increased by 26 lakh shares and stood at 1.44
Cr shares. Turnover was obviously higher at Rs 1.95 trillion due to roll over. Put
Call Ratio was at 1.05 and Volatility as measured by India VIX was almost flat
at 25.25. Dollar Rupee duo too was subdued at 56.43. In all it was a weak
expiry though after opening lower it managed to close some what higher than
opening.
I stick to my earlier opinion that we are engulfed in bear
trend and every rise in the market is an opportunity to sell with probable first
target at 4800 and below that at 4550 4600. It is advisable to go long only
after some meaningful bottom is in place which can be formed once we move above
5125 level and sustain above that for couple of days.
Top five individual stocks which gained today were UCOBANK
7%, TTML 7%, DENABANK 6%, SOUTHBANK 6% and VIJAYABANK 6%.
Top five individual stocks which lost ground were SUZLON
-8%, MCDOWELL -7%, MARUTI -4%, ICICIBANK -4% and TATAMOTORS -4%.
Top five individual stocks which attracted higher volumes
were SBIN, TATATMOTORS, RELIANCE, ICICIBANK and TATASTEEL.
Top five individual options which attracted higher activity
today were SBIN 2100 CE, SBIN 2050 PE, TATAMOTORS 240 CE, SBIN 2100 PE and SBIN
2150 CE.
Nifty option series where POSITIVE
change in open interest was seen were 5000 CE (17.55 LK) 4800 PE (25.41 LK)
4900 PE (32.22 LK)
Nifty option series where NEGATIVE change in open interest
was seen were 4000 CE (1.26 LK) 4700 CE (1.48 LK) 4800 CE 92.26 LK0 4900 CE
(13.22 LK) 5200 CE (2.08 LK) 5000 PE (16.47 LK0 5100 PE (2.45 LK0 5200 PE (2.79
LK0 5300 PE (2.67 LK) 5400 PE (1.47 LK) 5500 PE (2.25 LK) 6000 PE (1.19 LK)
Outstanding open interest in Out of the Money Call Options
stood at 3.70 Cr shares and that of Put Options stood at 3.59 Cr shares.
Outstanding open interest in In the Money Call Options stood at 24.92 LK shares
and that of Put Options stood at 40.37 LK shares. Put Call Ratio of current
series alone stands at 1.01
Happy Trading
Atul Doshi
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