Nifty likely to remain volatile - Microsec

Nifty opened flat on Tuesday but started to fall soon and could not recover throughout the day. It fell by over 200 points led by selling in Banking stocks and heavyweights like ITC and Reliance Industries.

The index is likely to remain extremely volatile in the next few trading sessions and it would be interesting to see whether it manages to close above 5400 on a weekly basis.

Nifty Call options of strike 5600 had a build up of 10625 lots while Put options of strike 4600 added 9483 lots to open interest.

Nifty Put Call ratio (OI) fell to 1.20 with the total open interest in Call options at 1,161,736 lots and that in Put options at 1,399,832 lots.

Cairn India, Karnataka Bank and Tata Motors DVR appear relatively strong while CESC, Axis Bank, Ranbaxy and Raymond Ltd are likely to remain weak.

Volatility Index rose sharply by 17.93% from 27.55 to 32.49.

Source : Equity Bulls

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