November 22, 2013

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Intraday Calls

On the previous trading day the Nifty closed at 5999 down 123 points. Nifty made a high of 6097 and the low of Nifty for the day was 5985. Intraday range for the day was 112 points. Last evening, European indices were flat. FTSE was up 0.25 points, CAC was down 14 points, and DAX was down 6 points. US markets were up. Dow Jones closed up 109 points, Nasdaq was up by 47 points and S&P 500 was up by 14 points.

Yesterday, FIIs sold Rs. 60 crores in cash segment whereas DIIs sold Rs.651 crores in cash. FIIs sold Rs. 1189 crores in Index futures and bought Rs. 662 crores in index options. In stock futures FIIs sold Rs. 266 crores and in stock options FIIs sold Rs. 53 crores. Index futures saw heavy selling.  

In Nifty options segment, Nifty 6200 put shed 12.3 lac shares along with Nifty 6100 put OI down by 12.6 lac shares. Whereas Nifty 5900 put adds more than 12 lac shares. Heavy OI addition seen in Nifty 6200 call 8.4 lac, Nifty 6100 call 16.1 lac, and Nifty 6000 call 24.6 lac shares. So till expiry, Nifty may not be able to cross 6100 and 5900 should act as support for Nifty.   

Today morning, Asian markets are trading positive. Nikkei up175 points, Hang Seng up 152 points Taiwan up by 23 points and Kospi up by 4 points. Here you can find latest detail on world market indices. SGX Nifty is trading 6 points positive till 7:10 a.m. So a flat to positive opening in our market can be expected.

Today Nifty opened at 6027 up 28 points. Nifty has made a high of 6040 and low of 6015 till 9:47 a.m. We can expect some volatility. Overall it should be a positive day.

Today's Intraday Calls:

• Bought TCS 2002 S L 1988 10:12 a.m.
• Bought TITAN 228.80 S L 226.80 10:47 a.m.
• Bought JINDALSTEL 247.50 S L 245 11:03 a.m.
• Revise S L in JINDALSTEL 246.90 12:26 p.m.

Nifty is up about 33 points. Top gainers for Nifty are Cairn, ONGC, and HDFC, whereas losers are Hinalco, Tatamotors, and SSTL. Here you can find more detail on gainers and losers. Dow future is up by 11 points and Euro zone futures are also up about 10 to 20 points. Here you can find full detail on world market futures. 

On the options front, Nifty 6000 put adds 14 lac shares and Nifty 5900 put also adds 7.5 lac shares. On the calls side Nifty 6200 call adds 10 lac shares. Putting all the things together, I think we are going to defend 6000 for today. But we are not going to cross 6100. Any rise towards 6100 can be used for selling. Here you can find full detail on Nifty options.

• Revise S L in TITAN to 228.80 1:30 p.m.
• Revise S L in JINDALSTEL 247.90 1:45 p.m.
• S L hit in JINDALSTEL 247.90
• S L hit in TITAN 228.80
• Sold TCS 1999 3:06 p.m.

Nifty has made a low of 5972 till 3:09 p.m. Options updates suggests that today's support for Nifty is challenged. Because Nifty 6200, Nifty 6100, and Nifty 6000 calls adds 13 lac shares each. Today's defense line 6000 is broken. For Monday we may see low below 5972 and go to the support of 5900. I have closed all Intraday trades. BTST for the day is none. STBT for the day is none.