Nifty PCR Open Interest rebounds sharply at 1.34 - Aditya Birla Money

NIFTY PCR_OI rebounds sharply at 1.34 (six month high PCR OI 1.36); 6000 PE on Thursday saw addition of 20.5 lakh shares (with total OI 62.3 lakh shares), PCR OI 0.9, On other hand 6000 CE saw unwind 8.8 lakh shares total OI with 61.8 lakh shares PCR_OI at 0.95, clearly implying support level for NIFTY 5950-5970.

INDIA VIX corrected sharply on Thursday down by 5.6% to close at 18.3 (back below 19), If continues to moves southward below 17.5 it will imply bias of VIX turning negative can lead to further pull back on Index as uncertainty will ease ), that would clearly signal NIFTY may test stiff resistance around 6130-6150 levels.

FIIs continue to be buyers in F & O market, in cash for 4th day sellers to the tune of 178 Cr., DIIs also continue to be sellers 238 Cr; On F & O Front, FIIs continue to form longs in Index Fut. buyers to the tune of 30 Cr.; Index options buyers of 465 Cr., Stock Future continue to be buyers 324 Cr; clearly FIIs net figures F & O front are signaling some supportive buying from lower levels, implies NIFTY may show support around 5950-5970.

Over all PE writers add aggressive positions; Index support levels 5950-5980 levels.

Source : Equity Bulls

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