India's Volatility Index falls by 5.44% - Microsec

Nifty remained extremely volatile on Friday and moved by more than 100 points on three occasions. It made a low of 5367 in early trade and move higher up to 5469 before falling again up to 5360. In the last hour, it rose again to test a high of 5492.

The index is near the short term resistance zone of 5490-5530 and a move beyond 5530 might lead to a rally up to 5750 followed by 6000 in the medium term. Only a weekly closing below 5380 would now lead to resumption of selling pressure.

Nifty Put Call ratio (OI) stands at 1.22 with the total open interest in Call options at 1,048,373 lots and that in Put options at 1,278,165 lots.

Bank of India, State Bank of India, PNB, Yes Bank, OFSS, PFC, Reliance Capital, Ultratech Cement, Union Bank and Bajaj Auto appear strong while Sesa Goa, Adani Power, Adani Enterprises, Financial Technologies and Future Retail are likely to remain relatively weak.

Volatility Index fell by 5.44% from 29.41 to 27.81.

Source : Equity Bulls

Keywords