The Nifty Index in last trading session declined more than a percent and ended at 6079.80. On the derivatives front we have seen that the Nifty Futures prices have declined along with nominal shredding of open interest but rise in the cost of carry, this is an indication of long closure at higher levels. On the options front we have seen that the OI PCR has declined to 1.31 vs. 1.37 mainly on account of shredding of open interest on the puts front. On the volatility front we have seen that the Indian Volatility Index (VIX) has shown rise of nearly 5% indicating uncertainty at higher levels.
Nifty Target for 6 January – 6150
Nifty Levels for 6th January 2011
PIVOT SUPPORT 1 SUPPORT 2 RESISTANCE 1 RESISTANCE 2
6112 6071 6045 6136 6170
