Nifty remained extremely range bound on Friday - Microsec

Nifty remained extremely range bound on Friday after a sharp move on Thursday. Lack of FII buying and profit booking in mid cap stocks led to a dull session. The index is likely to remain extremely dull in the next few trading sessions and is likely to consolidate in the 8050-8200 range in the next few trading sessions.

Nifty Sep Call options of strike 8200 had a build up of 16,481 lots while Nifty Sep Put options of strike 7900 shed open interest by 17,318 lots.

Nifty Sep Put Call ratio (OI) fell to 1.13 with the total open interest in Call options at 733,493 lots and that in Put options at 827,184 lots.

Bata India, HCL Technologies, REC Ltd, Tata Global and Ultratech Cement appear strong while Voltas Ltd, Exide Industries, Hero MotoCorp, JP Associates, OFSS and Arvind Ltd are likely to remain relatively weak.

Volatility Index fell by 3.55% from 12.33 to 11.89.

Source : Equity Bulls

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