Volatility Index rises sharply by 11.52% to 29.42 - Microsec

Nifty opened lower on Tuesday and continued to drift lower throughout the day. Huge selling by FIIs in index heavyweight stocks led to the Nifty falling by more than 3%. The index is likely to move lower in the medium term and a breach of 5200 would see the Nifty going lower up to 4900.

Nifty Call options of strike 5400 had a build up of 58516 lots while Nifty Put options of strike 5400 and 5500 shed open interest by 53004 lots and 55917 lots respectively.

Nifty Put Call ratio (OI) fell at 0.88 with the total open interest in Call options at 1,860,730 lots and that in Put options at 1,644,030 lots.

Dish TV, Zee Entertainment, Sun TV, ITC Ltd and Adani Ports appear relatively strong while BHEL, REC Ltd, PFC, Ranbaxy Laboratories, Century Textiles, Reliance Infrastructure and Arvind Ltd are likely to remain weak.

Volatility Index rose sharply by 11.52% from 26.38 to 29.42.

Source : Equity Bulls

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