Nifty PCR Open Interest flat at 0.89 - Aditya Birla Money

NIFTY PCR_OI was flat at 0.89 (rebounding from low 0.80 ), with 5500 and 5600 CE saw addition of 8 and 12 lakh shares total OI 35 and 70 lakh shares on other hand 5500 PE saw unwinding of 8 lakh shares with total OI at 66 lakh shares (PCR-OI of 5500 at 1.89) implying immediate short term NIFTY will find support at 5450-5500 levels.

INDIA VIX corrected 3% at 16.45 (intraday corrected from 17.5, 4th time in 3 months) though still above 16 levels, we have to watch for if moves above 17-17.5 and sustain above this levels, Bears will have upper hand and put pressure on NIFTY may retest at 5450-5500 levels.

FIIs turned sellers in NIFTY Fut. Rs 401 Cr. (some fresh shorts seen post one day buying.); first time in April series INDEX Options turned seller 451 Cr (hedging decreased as VIX reaching17 levels, implying FIIs expect volatility to decrease), stock futures saw selling 40 Cr; selling resumes in cash 29 Cr.,(momentum coming down) with Hedging coming down, expecting VIX to correct, implying NIFTY may find support 5450-5500 levels.

Over all CE writers build their positions; Index may find resistance at 5580-5630 levels

Source : Equity Bulls

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