Nifty PCR OI flat at 1.24 - Aditya Birla Money

NIFTY PCR_OI flat at 1.24 ( last Week high 1.19); 6100 PE on Wednesday saw unwinding i.e. 1 lakh shares (with total OI 53 lakh shares), PCR _OI flat at 0.85, On other hand 6100 CE saw addition of 1 lakh shares, on Tuesday total OI with 67 lakh shares PCR_OI at 0.85, clearly implying any up move NIFTY would face resistance at 6100-6140.

INDIA VIX flat at 17.8, trading above 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 415 Cr. (for 4th day, fresh longs); turned buyers INDEX Options 303 Cr (volume decline, buying emerge as VIX refuses to settle, implying FIIs expect volatility to stabilize current level), stock futures continue sellers 61 Cr., buying in cash continue 644 Cr., some fresh Longs in NIFTY along with cash buying continue, NIFTY may relook to retest resistance 6090-6130 levels.

Over all CE and PE writers hold; Index may consolidate 6030-6140 levels.

Source : Equity Bulls

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