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INTRADAY NIFTY TIPS 12 JAN 2011

The Nifty Index in last trading session witnessed both side movements. It tested the levels of 5700 and rebounded to give a flat close at 5754.10. On the derivatives front we have seen that the Nifty Futures prices ended flat along with the rise in the cost of carry but witnessed shredding of open interest, this is an indication that markets witnessed some amount of short covering at lower levels. On the options front we have seen that the OI PCR is trading below the level of 1 and is on decline due to shredding of open interest being seen on the put options front. On the volatility front the Indian Volatility Index (VIX) has seen some decline indicating some relief at lower levels.

Nifty Levels for 12 JANUARY

PIVOT  SUPPORT 1  SUPPORT 2  RESISTANCE 1  RESISTANCE 2 
5783        5725             5642           5866                  5924   

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Intraday Tips Updated at: 7:11 PM
 
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