Feb 20, 2013, 09.05 AM IST | Source: Moneycontrol.com

Nifty continue to trade in 5870-6030: Aditya Birla

Aditya Birla Money has come out with its derivative report. According to the research firm, on F&O front hedging has stalled, as VIX correcting marginally from six month high, expect to VIX correct some more, implying Nifty may continue to trade in range 5870-6030 levels.

Aditya Birla Money has come out with its derivative report. According to the research firm, on F&O front hedging has stalled, as VIX correcting marginally from six month high, expect to VIX correct some more, implying Nifty may continue to trade in range 5870-6030 levels.

Nifty PCR_OI rebound marginally to 0.95, with 6000 and 6100 CE saw unwinding of 8 and 3 lakh shares; total OI 77 and 83 lakh shares. On other hand 5900 PE saw addition of 4.6 lakh shares with total OI at 71 lakh shares (PCR‐OI of 5900 has moved to 1.86 from 1.65) implying immediate short term NIFTY may not go below strong support band at 5870‐5900. India VIX corrects 3% at 15.91, 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 5980‐6030.

 FIIs continue to be sellers in Nifty Fut. Rs 420 Cr. (selling resumes in Index Fut.; last week sold 3220 Cr., some fresh shorts); selling emerging in INDEX Options 145 Cr ( 7875 Cr. bought in last 15 sessions, hedging stalled, however quantum is less), stock futures continue to be buyers 413 Cr; turned sellers in cash to the tune of 143 Cr. volumes and participation continuously coming down in cash front, on F & O front hedging has stalled, as VIX correcting marginally from six month high, expect to VIX correct some more, implying Nifty may continue to trade in range 5870-6030 levels.

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READ MORE ON  Aditya Birla Money, Nifty

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