Resilient Day: July 4, 2012
Nifty July Futures closed at 5322.65 up by 16.90 points.
Bank Nifty closed at 10536.25 up by 48.50 points. Open Interest in Nifty across
all the series increased by 8 lakh shares at 2.48 Cr shares. Turnover was slightly
lower than yesterday at Rs 716 bn. Put
Call Ratio was marginally up at 1.01 for both Index & Stock Options on
consolidated basis and for Nifty alone in current series it was up at 1.49. Volatility
as measured by India VIX was down by 2% at 18.27. Dollar Rupee pair was also
trading lower at 54.74 helping Rupee to gain. In all it was a resilient day
with upward bias as can be seen from bullish built up in Open Interest as well
as improvement in price of Nifty from yesterday’s level.
As said earlier we are heading for 5500. All the lead
indicators like Open Interest, Price behavior, Dollar Rupee, Volatility and
technical charts suggests confidence is returning and traders are comfortable
in bullish build up. Even FII’s are supporting by buying in the market. Mind
you one has to remain cautious and enter the trade with definite stop in mind
as VIX is trading at its trough level and any sharp reversal from this level to
mean, will lead market to become jittery as generally VIX is inversely correlated
to price behavior.
Top five individual stocks which gained today were STRTECH
10%, ONMOBILE 10%, JSWISPAT 8%, VOLTAS 7% and
IDEA 6%.
Top five individual stocks which lost ground were SUNTV -3%,
INDIACEM -3%, ESSAROIL -2% MRPL -2% and ONGC -2%.
Top five individual stocks which attracted higher volumes
were SBIN, ICICIBANK, SESAGOA, JSWSTEEL and TATAMOTORS.
Top five individual options which attracted higher activity
today were SBIN 2000CE, SBIN 2250CE, SBIN 2200PE, SBIN 2100PE and SBIN 2300CE.
Nifty option series where POSITIVE
change in open interest was seen were 5300CE (1.43 LK) 5400CE (7.02 LK) 5500CE
(3.43 LK) 5600CE (3.48 LK) 4700PE (1.03 LK) 4800PE (1.12 LK) 4900PE (2.89 LK)
5000PE (3.22 LK) 5100PE (1.61 LK) 5200PE (5.77 LK) 5300PE (6.05 LK) 5400PE
(1.78 LK)
Nifty option series where NEGATIVE change in open interest
was seen were 6000CE (0.85 LK)
Outstanding open interest in Out of the Money Call Options
stood at 1.80 Cr shares and that of Put Options stood at 4.47 Cr shares.
Outstanding open interest in In the Money Call Options stood at 1.46 CR shares
and that of Put Options stood at 39 LK shares. Put Call Ratio of current series
alone stands at 1.49
Happy Trading
Atul Doshi
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