SENSEX NIFTY
Feb 01, 2013, 09.12 AM IST | Source: Moneycontrol.com

Nifty likely to trade in 6010-6100 range: ICICIdirect.com

According to derivative report by ICICIdirect.com, the Nifty is likely to open flat to negative on the back of mixed global cues. It is likely to trade in the range of 6010-6100.

According to derivative report by ICICIdirect.com, the Nifty is likely to open flat to negative on the back of mixed global cues. It is likely to trade in the range of 6010-6100.

The settlement session remained largely range bound. As expected, the Nifty settled near its future VWAP level at 6034. FIIs were net buyers in the cash segment to the tune of Rs 958 crore while they created short positions in index futures and stock futures to the tune of Rs 458 and | 533 crore, respectively. India VIX declined marginally to 14.13 from 14.38 (down 1.7%). The February series is starting with options base placed at the Call 6200 strike and Put 6000 strike. In the last session, Call 6100 and 6200 strikes accumulated 0.6 million shares while close to 0.5 million shares were added among Put strikes of 5800, 5900 and 6000 strikes. 

Nifty: The Nifty is likely to open flat to negative on the back of mixed global cues. It is likely to trade in the range of 6010-6100. The trading strategy would be to create short positions if the Nifty resists at around 6090 levels for targets of 6055 and 6035. On the other hand, one can also create long positions if it takes support at around 6020 levels. 

Bank Nifty: The Bank Nifty is likely to trade in the range of 12600-12900.

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To read the full report click here

READ MORE ON  ICICIdirect.com, Nifty

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