Nifty PCR OI spurt to 1.18 - Aditya Birla Money

NIFTY PCR_OI spurt at 1.18 ( last Week high 1.19); 6000 PE on Friday saw addition i.e. 19.3 lakh shares (with total OI 79 lakh shares), PCR _OI increased from 0.85 to 1.35, On other hand 6100 CE add 5 lakh shares, add on Monday total OI with 83.6 lakh shares PCR_OI at 0.52, clearly implying any up move NIFTY would face resistance at 6100-6130.

INDIA VIX correct by 3% at 17.2, trading below 17.5 levels, we have to watch for if sustains above 18-18.5 and moves above 20 levels, may lead to higher uncertainty and NIFTY may have to retest support at lower levels at 5950-5850 levels.

FIIs continue to be buyers in NIFTY Fut. Rs 154 Cr. (for 2nd day, fresh longs); continue to be sellers INDEX Options 546 Cr (volume pick up, for 2nd day selling continues, implying FIIs expect volatility to fall further from current level), stock futures again turned sellers 125 Cr; also, turned buyers in cash 406 Cr., some fresh Longs in NIFTY along with aggressive unwind in options, cash buying emerging again, NIFTY may relook to retest resistance 6090-6130 levels.

Over all CE writers and PE writers accumulate; Index may consolidate 5930-6120 levels.

Source : Equity Bulls

Keywords