NIFTY PCR OI at 0.94 - Aditya Birla Money

NIFTY PCR OI increased at 0.94, with 5800 and 5900 CE saw addition of 1.5 and 1.7 lakh shares; total OI 49 and 58 lakh shares on other hand 5700 PE and 5800 PE saw addition of 12 and 10 lakh shares with total OI at 83 and 58 lakh shares (PCR-OI of 5800 moving above 1 at 1.3) implying immediate short term NIFTY will find support in band of 5670-5730

INDIA VIX corrected further 2% at 13.09, corrected from 6 mth high, well below 14 levels, we have to watch this level carefully if it remains below 14.5-15 levels and moves back to 13.5, Bulls will have upper hand and NIFTY technical rebound materialize till 5830-5850.

FIIs turned buyers in NIFTY Fut. Rs 175 Cr. (buying continues in Index Fut. some fresh longs seen); buying continues in INDEX Options 809 Cr (hedging starts as VIX back below 14 levels, 1870 Cr. worth options bought ), stock futures continue to be buyers 655 Cr; turned buyers in cash to the tune of 220 Cr. volumes and participation dipping in cash front, on F & O front however some fresh longs in NIFTY seen, implying Pull Back will face resistance in range 5830-5850 levels

Over all PE writers continue to form aggressive positions, Index will find support 5670-5830 levels.

Source : Equity Bulls

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