SENSEX NIFTY
Feb 26, 2013, 09.53 AM IST | Source: Moneycontrol.com

Nifty continue to consolidate in 5790-5930 range: AB Money

According to derivative report by Aditya Birla Money, on F & O front hedging continues to unwind, implies VIX expected to stabilize or correct from six month highs, implying Nifty will continue to consolidate in range 5750-5930 levels.

According to derivative report by Aditya Birla Money, on F & O front hedging continues to unwind, implies VIX expected to stabilize or correct from six month highs, implying Nifty will continue to consolidate in range 5750-5930 levels.

Nifty PCR_OI flat at 0.87, with 5900 and 6000 CE saw addition of 6 and unwinding of 10 lakh shares; total OI 66 and 93 lakh shares. On other hand 5800 PE saw unwinding of 5.2 lakh shares with total OI at 71 lakh shares (PCR‐OI of 5800 is well above1 at 3.95) implying immediate short term Nifty range shifted south in band of 5780‐ 5950. 

India VIX flat at 16.73, at a new 6 mth high, still well above 15 levels, we have to watch this level carefully if it remains above 14.5‐ 15.5 levels, Bears will have upper hand and Nifty may face stiff resistance at 5930‐5950. FIIs continue to be sellers in Nifty Fut. Rs 432 Cr. (selling resumes in Index Fut. last two sessions 922 Cr., some fresh shorts seen); selling continues in INDEX Options 853 Cr (1182 Cr. sold in last 2 sessions, hedging being unwind).

stock futures continue to be buyers 291 Cr; continue to be buyers in cash to the tune of 242 Cr. volumes and participation coming down in cash front, on F & O front hedging continues to unwind, implies VIX expected to stabilize or correct from six month highs, implying Nifty will continue to consolidate in range 5750-5930 levels. Over all CE writers continue to form aggressive positions, Index will find resistance 5880-5930 levels.

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READ MORE ON  Aditya Birla Money, Nifty

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