Nifty
Outlook:
· NIFTY PCR_OI flats at 1.05 (higher opening in last 3 months),
with 5800 and 5900
PE saw addition of
3.5 and 5.03 lakh shares total OI 54 and 38 lakh shares on other hand
5900 and 6000
CE saw addition of
1 and 2.5 lakh shares with total OI at 46 and 44 lakh shares (PCR-OI of 5800 and
5900 at 1.45 and 0.75) implying immediate short term NIFTY will trade in range
at 5750-6000
levels.
· INDIA VIX up by 4% at 14.33 above 14 levels, we have to watch for
if moves above 15-15.5 and sustains above this levels, Bears will be back in
action NIFTY may
feel stiff resistance higher levels at 5980-6030 levels.
· FIIs continue to be buyers in NIFTY Fut. Rs 7 Cr. (negligible
volumes); also turned sellers in MAY series INDEX Options sellers 316 Cr
(hedging unwound as VIX rebounding 14.5 levels, quantum is too less, implying
FIIs expect volatility to remain range bound), stock futures continue to be
sellers 388 Cr; buying continues in cash with momentum maintained 615 Cr., with
some fresh longs in NIFTY continue along with Cash buying seeing higher
momentum, NIFTY may
test higher levels 5900-5980 levels.
· Over all PE writers build aggressive
positions; Index may
find support at 5760-5830 levels.
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