Feb 27, 2013, 09.53 AM IST | Source: Moneycontrol.com

Nifty may face stiff resistance at 5840-5930: Aditya Birla

Aditya Birla Money has come out with its derivative report. According to the research firm, India VIX moved up 4percent at 17.36, 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 5840-5930.

Aditya Birla Money has come out with its derivative report. According to the research firm, India VIX moved up 4percent at 17.36, 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 5840-5930.

Nifty PCR_OI decline at 0.83, with 5800 and 5900 CE saw addition of 22 and unwinding of 10 lakh shares; total OI 41 and 79 lakh shares. On other hand 5800 PE saw unwinding of 7.4 lakh shares with total OI at 63 lakh shares (PCR‐OI of 5800 still above1 at 1.7) implying immediate short term Nifty range shifted south in band of 5735-5840.

India VIX moved up 4percent at 17.36, 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 5840-5930.

FIIs continue to be sellers in Nifty Fut. Rs 1271 Cr. (selling intensify in Index Fut. last three sessions 2355 Cr., some fresh shorts seen); buying resumes in INDEX Options 685 Cr ( 1182 Cr. sold in last 2 sessions, hedging starts again), stock futures continue to be buyers 408 Cr; continue to be buyers in cash to the tune of 74 Cr. volumes and participation coming down in cash front, on F & O front hedging starts again, implies VIX expected to rise again from six month highs, implying Nifty will face stiff resistance in range 5850-5930 levels. over all CE writers continue to form aggressive positions, Index will find resistance 5880-5930 levels.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click here

READ MORE ON  Aditya Birla Mone, Nifty

ADS BY GOOGLE

Buy & sell politicians on Power Play
- the political stock exchange

Price Update

Rahul Gandhi

581.36 -6.95 -1.18%

166722

Bought today

364845

Sold today

0.59%

User holding

video of the day

Chandra says satisfied with TCS' FY14, FY15 to be better

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.