SENSEX NIFTY
Feb 22, 2013, 10.15 AM IST | Source: Moneycontrol.com

Nifty has resistance at 5950-5980: Aditya Birla Money

According to derivative report by Aditya Birla Money, India VIX spurts 9% at 16.94, 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 5950-5980.

According to derivative report by Aditya Birla Money, India VIX spurts 9% at 16.94, 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 5950-5980.

Nifty PCR_OI corrected sharply to 0.88, with 5900 and 6000 CE saw addition of 20 and 28 lakh shares, add total OI 60 and 103 lakh shares, on other hand 5800 PE saw addition of 7.6 lakh shares with total OI at 76 lakh shares (PCR‐OI of 5800 is well above 1 at 4.85) implying immediate short term Nifty range shifted south in band of 5780-5950.  India VIX spurts 9% at 16.94, 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 5950-5980.

FIIs turned sellers in Nifty Fut. Rs 486 Cr. post one day buying (selling resumes in Index Fut.; last week sold 3220 Cr., some fresh shorts); buying continues in INDEX Options 138 Cr ( 7875 Cr. bought in last 15 sessions, hedging continues, however quantum is less), stock futures continue to be buyers 83 Cr; continue to be buyers in cash to the tune of 1213 Cr. volumes and participation picking up in cash front, on F & O front hedging resumes but quantum is less, as VIX spurt up to new six month high, expect to VIX move further up, implying Nifty will face resistance 5950-5980 levels.

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READ MORE ON  Aditya Birla Money, Nifty

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