Nifty PCR OI flat at 0.99 - Aditya Birla Money

NIFTY PCR_OI flat at 0.99 (below 1) with 6000 and 6100 CE witnessing unwinding of 1.9 and addition of 2.4 lakh shares respectively; Total OI 56 and 76 lakh shares. O n other hand 5900 PE saw addition of 7.1 lakh shares with total OI at 79 lakh shares (PCR-OI of 6000 well below 1) implying immediate short term NIFTY may find stiff resistance 5980-6040.

INDIA VIX corrected 1% towards15.15 however still above 15 levels; We have to watch this level carefully if it remains above 14.5-15.5 levels, Bears will have upper hand and NIFTY may face stiff resistance at 5980-6030.

FIIs were buyers in NIFTY Fut. Rs 152 Cr. (buying in Index Fut.; last week sold 2350 Cr, some fresh longs); post 1 day selling buying in INDEX Options 646 Cr ( 7446 Cr. bought in last 12 sessions, hedging started), stock futures continue to be buyers 912 Cr; continue to be buyers in cash to the tune of 800 Cr. volumes and participation increased in cash front, on F & O front hedging starts, expecting VIX to move up, cash liquidity still positive implying NIFTY may trade in range 5850-6050 levels

Over all CE writers continue to form aggressive positions, Index will find resistance 5980-6030 levels.

Source : Equity Bulls

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