Volatility Index rose by 9.26% - Microsec

Nifty has been extremely volatile in the last few trading sessions and after touching a high of 6142, it has corrected up to 5871 on Monday. It is likely to drift lower up to 5700 in the short term and 5450-5500 in the medium term. On the upside, 5970 and 6140 are key resistance levels.

Nifty Call options of strike 5900 and strike 6000 added open interest by 33,935 lots and 34,317 lots respectively while Nifty Put options of strike 5700 had a strong build up of 48,352 lots.

Nifty Put Call ratio (OI) stands at 1.31 with the total open interest in Call options at 1,475,784 lots and that in Put options at 1,933,861 lots

OFSS, Idea Cellular, Jubilant Foodworks and Cairn India appear relatively strong while ITC Ltd, Reliance Industries, State Bank of India, HDFC Ltd, LIC Housing Finance, REC Ltd, Larsen & Toubro and Punj LLoyd are likely to remain weak.

Volatility Index rose by 9.26% from 24.73 to 27.02.

Source : Equity Bulls

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