VIX rises to 28.09 - Microsec

In line with our expectations, Nifty rallied to test a high of 5502 but failed to sustain at higher levels and immediately fell up to 5450 odd level. In the second half, panic selling was witnessed as Nifty fell up to a low of 5269.

The immediate support on the downside is at 5190 and if this level is held on the downside, a sharp pull back is possible in the near term which might take the index higher up to 5650. A breach of 5190, however, would open the gates for 4900.

Nifty Put Call ratio (OI) fell to 0.88 with the total open interest in Call options at 1,744,930 lots and that in Put options at 1,539,943 lots.

State Bank of India, CESC Ltd, PFC, Karnataka Bank, Dabur India, ICICI Bank, RCOM and BHEL appear strong while Ranbaxy and Apollo Tyres might stay weak.

Volatility Index rose further by 3.16% from 27.23 to 28.09.

Source : Equity Bulls

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