Freak Friday

Freak trades have been observed many times in Sgx Nifty and in Mini Nifty, largely in next months contracts where trades will be limited. Further, freak trades will be in the opening time itself. But, what happened on Friday(20-4-12)is unbelievable. Nifty futures for April touched a low of 5000 at 2.30 p.m. when Nifty spot touched its low of 5245 only. That means all traders who placed a buy order from 5000 to 5353.55(difference of 354 points) in Nifty futures on that day got their orders executed. Thus Nifty futures turnover zoomed to 9,04,487.30 crores where as it was 6,14,720.90 crores on Thrusday. The trader who placed a buy order for 5000 might have known it before, if large volume is there. Otherwise it might be a trader who always places a buy order at low values to gain from such freak instances. What ever may be the case, we may be knowing it once the inquiry the NSE/SEBI is conducting is over. There was also a freak trade in Infosys futures which will also be inquired in to. On Friday(20-4-12)Nifty closed at 5291 with a loss of 41 points, below Agni level. As Agni level for Monday is at 5350, hold on shorts as far as Nifty remains below Agni level. For other details see the table above.