Nifty PCR OI at 1.6 - Aditya Birla Money

NIFTY PCR_OI correct at 1.6, with 5900 and 6000 CE saw addition of 2.12 and 4.2 lakh shares total OI 59 and 77 lakh shares on other hand 5800 PE saw unwind of 7.7 lakh shares with total OI at 77 lakh shares (PCR-OI of 5900 close to 1 at 0.98) implying immediate short term NIFTY will trade in range at 5790-6010.

INDIA VIX move up 3.4% at 15.16, closing back above 15 levels, we have to watch for next level 14.5-15.5 if it moves above 15.5 levels, Bears will be back in business, and NIFTY may retest at 5770-5830 levels.

FIIs continue to be buyers in NIFTY Fut. Rs 299 Cr. (some short covering seen.); buying resumed in INDEX Options total quantum 1427 Cr (hedging returning back as VIX moving back above 15 levels, and closing above 15 ), stock futures also continue to see selling 536 Cr; continue to be buyers in cash to the tune of 1018 Cr. positive flows continue on cash front, on F & O however hedging in NIFTY was seen back, expecting to VIX to rebound, implying some more consolidation in NIFTY can be seen 5790-6010 levels.

Over all CE writers were seen addition of positions; Index will find resistance at 5950-6020 levels.

Source : Equity Bulls

Keywords