Nifty opened weak on the back of bad global cues, and some huge selling saw the Nifty index suffer its biggest percentage drop since July 2009. The index lost 234.45 points or around 4.08% to close at the low points of the day at 5507.85 after making a low at 5496.05. On a week on week basis Nifty lost 57.80 points. The broader market was pathetic, with just 190 advances to 997 declines. Highest addition for the day was at 5600CE, which looks like a super resistance for the week. Nifty Open Interest is at 1,76,16,800 up by 27,12,300, with decrease in price, most probably huge short build-up. Bank Nifty Open Interest is at 24,28,525 up by 11,475, with huge decrease in price, most probably small short build-up. FII’s sold 17.59 lacs Futures, mostly short build-up, as their net OI increased by 52040 contracts and the average price per contract comes to around 5354.41. Day Range as per Option Table is 5475 - 5639 and as per VIX is 5440 - 5576 with 5574 as the Pivot. India VIX : 23.64, up by 4.94 points Call OI : 44879500 Put OI : 43528350 PCR OI : 0.970 SMR : 24.37 (BEARISH: The four days of laboured up-move by the Bulls was undone in a single day, with a huge down-move of 234.45 points. Bears just came back with ultra power and now have a real chance to break 5400...)
Posted on: Sun, 18 Aug 2013 09:50:36 +0000
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