Volatility Index fell by 3.71% from 16.18 to 15.58 - Microsec

Nifty moved higher on Friday led by strength in IT companies after Infosys announced better than expected results. However, it failed to move past 6240 and fells sharply in the closing hours of the day and gave away all the gains. A breach of 6150 could see the index going lower up to 5980 in the short term while a move beyond 6240 would be required to take it higher up to 6350.

Nifty Call options of strike 6400 added 16,242 lots to open interest while Nifty Put options of strike 5700 shed open interest by 26,978 lots.

Nifty January Put Call ratio (OI) fell to 0.99 with the total open interest in Call options at 656,266 lots and that in Put options at 648,648 lots.

Mcdowell-N, Infosys Technologies, Reliance Industries, Jaiprakash Power, Colgate Palmolive, Divi's Laboratories, GSK Consumer and ONGC appear strong while Coal India, M&M, IndusInd Bank and Maruti Suzuki appear relatively weak.

Volatility Index fell by 3.71% from 16.18 to 15.58.

Source : Equity Bulls

Keywords