Volatility Index rose further by 6.40% from 25.59 to 27.23 - Microsec

Nifty opened lower again but recovered over 100 points from the day's low to test an intra-day high of 5417. It is interesting to note that Nifty again closed above 5400 and a move above 5420 might now take the index higher up to 5500 in the extreme short term.

Nifty Call options of strike 5400 had a build up of 21869 lots while Put options of strike 5300 added open interest by 42208 lots.

Nifty Put Call ratio (OI) rose marginally to 0.91 with the total open interest in Call options at 1,686,366 lots and that in Put options at 1,532,117 lots.

State Bank of India, Dena Bank, Voltas Ltd, Cairn India and Karnataka Bank appear strong while Ranbaxy Laboratories, Shriram Transport Finance, Wipro Ltd and Tata Power are likely to remain weak.

India's Volatility Index rose further by 6.40% from 25.59 to 27.23.

Source : Equity Bulls

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