SENSEX NIFTY
Mar 07, 2013, 09.50 AM IST | Source: Moneycontrol.com

Nifty to find support at 5670-5730: Aditya Birla

Aditya Birla Money has come out with its derivative report. The research firm says total OI 49 and 58 lakh shares on other hand 5700 PE and 5800 PE saw further addition of 10 and 14 lakh shares with total OI at 94 and 70 lakh shares implying immediate Nifty will find support in band of 5670-5730 in short term.

Aditya Birla Money has come out with its derivative report. The research firm says total OI 49 and 58 lakh shares on other hand 5700 PE and 5800 PE saw further addition of 10 and 14 lakh shares with total OI at 94 and 70 lakh shares implying immediate Nifty will find support in band of 5670-5730 in short term. 

Nifty PCR_OI increased at 1, with 5800 and 5900 CE saw unwinding of 1 and 2 lakh shares, total OI 49 and 58 lakh shares on other hand 5700 PE and 5800 PE saw further addition of 10 and 14 lakh shares with total OI at 94 and 70 lakh shares (PCR‐OI of 5800 sustaining above 1 at 1.7) implying immediate short term Nifty will find support in band of 5670-5730. 

India VIX was flat 2% at 13.09, corrected from 6 mth high, well below 14 levels, we have to watch this level carefully if it remains below 14.5‐15 levels and moves back to 13.5, Bulls will have upper hand and Nifty technical rebound materialize till 5830-5850.

FIIs continue to be buyers in Nifty Fut. Rs 191 Cr. (buying continues in Index Fut. some fresh longs seen); buying continues in INDEX Options 912 Cr (hedging starts as VIX back below 14 levels, 2770 Cr. worth options bought ), stock futures continue to be buyers 607 Cr; continue to be buyers in cash to the tune of 2524 Cr. volumes and participation increasing in cash front, on F & O front also some fresh longs in Nifty seen, implying pull back will face resistance in range 5830-5850 levels.

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READ MORE ON  Aditya Birla Money, Nifty

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