Stable Day: June 8, 2012
Nifty June Futures closed higher by 30 points at 5059.40.
Bank Nifty closed higher by 83.70 points at 9939.50. Open Interest in Nifty
across all the series saw negligible reduction by 10 k shares at 1.79 Cr
shares. Turnover was slightly higher at Rs 1.05 trillion. Put Call Ratio for
both Index and Stock Options across all the series on consolidated basis was
unchanged at 1.06 though for only Nifty and that for June series was higher at
1.70 indicating traders are confident about the markets moving up in shorter
term time frame. Volatility as measured by India VIX was marginally down by 1%
at 23.47. Dollar Rupee pair was trading bit higher at 55.66. In all it was a
stable day with prices moving up and closing higher for the 4th
consecutive day.
As said in several earlier post, this up moves are
correction of bear trend and pull back in prices can continue up to 5160 and
maximum up to 5228. Level of 5228 is difficult to be breached but if in case
markets move up and close on sustained basis above 5228 than bear trend will be
over and we will have to think in term of Bullish outlook. As long as it is not
able to breach this level, sell at every rise is warranted with stop above 5160
and 5228 and price target of 4800.
Top five individual stocks which gained today were JETAIRWAYS
9%, SUNTV 9%, HDIL 6%, IVRCLINFRA 6% and TATACOFFEE 6%.
Top five individual stocks which lost ground were BEML -6%,
INDIACEM -5%, NAGAROIL -3%, ONMOBILE -3% and AUROPHARMA -3%
Top five individual stocks which attracted higher volumes
were SBIN, HDIL, ICICIBANK, LT and RELINFRA.
Top five individual options which attracted higher activity
today were SBIN 2200CE, SBIN 2100PE, JPASSOCIAT 75CE, SBIN 2300CE and
SBIN2150CE.
Nifty option series where POSITIVE
change in open interest was seen were 5200CE (3.05 LK) 4400 PE (4.57 LK) 4500PE
(2.81 LK) 4700PE (2.48 LK) 5000PE (10.22 LK) 5100PE (3.26 LK)
Nifty option series where NEGATIVE change in open interest
was seen were 4800CE (-2.26 LK) 4900CE (-4.72 LK) 5000CE (3.01 LK) 5300CE
(-4.39 LK) 5400CE (-1.50 LK) 4900PE (-1.21 LK)
Outstanding open interest in Out of the Money Call Options
stood at 2.02 Cr shares and that of Put Options stood at 4.87 Cr shares.
Outstanding open interest in In the Money Call Options stood at 1.15 Cr shares
and that of Put Options stood at 51.17 LK shares. Put Call Ratio of current
series alone stands at 1.70
Happy Trading
Atul Doshi
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