NIFTY PCR_OI further increased at 1.15, with 6000 CE saw unwinding of 10 lakh shares,total OI 57 lakh shares. On other hand 5900 PE and 6000 PE saw further addition of 26 and 13 lakh shares with total OI at 64 and 29 lakh shares (PCR-OI of 5900 above 1 at 1.12) implying immediate short term NIFTY will find support in band of 5780-5850.
INDIA VIX moved up by 2% at 13.34, corrected from 6 mth high, sustain 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 5980-6050.
FIIs continue to be buyers in NIFTY Fut. Rs 569 Cr. (buying continues in Index Fut. some fresh longs seen); buying continues in INDEX Options 162 Cr (hedging volume coming down as VIX back below 14 levels, 3340 Cr. worth options bought ), stock futures continue to be buyers 495 Cr; continue to be buyers in cash to the tune of 1284 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 5980-6050 levels.
Over all PE writers continue to form aggressive positions, Index will find support 5780-5850 levels.