VIX rose by 2.75% to 29.44 - Microsec

Nifty rallied sharply on Tuesday by 216 points and has now rallied by 11% in just four trading sessions from a low of 5319 to a high of 5904. The 5970-6010 is likely to act as a strong resistance and the index can drift lower up to 5700 in the short term. A breach of 6010 could see the index testing the previous high of 6093.

Nifty Call options of strike 6100 had a build up of 35871 lots while Put options of strike 5800 added 47291 lots to open interest.

Nifty Put Call ratio (OI) rose to 1.35 with the total open interest in Call options at 1,278,055 lots and that in Put options at 1,722,442 lots.

ITC Ltd, HDFC Bank, OFSS, HCL Technologies, Bata India, Zee Entertainment and Asian Paints appear strong while State Bank of India, Bank of Baroda, BHEL, IOC Ltd, Biocon Ltd, Andhra Bank and BPCL are likely to remain weak.

Volatility Index rose by 2.75% from 28.65 to 29.44.

Source : Equity Bulls

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