The Nifty Index in last trading sessions once again ended in the red territory at 6048.25 losing nearly half a percent. On the derivatives front we have seen that the Nifty futures prices declined along with an overall addition of open interest and rise in the cost of carry, this is an indication of some longs being built at lower levels. On the options front we have seen that the OI PCR has declined to 1.24 vs. 1.31, this is mainly seen on account of addition of open interest on the call options side whereas shredding of open interest was seen on the put side. On the volatility front the Indian Volatility Index (VIX) has once again shown a rise indicating uncertainty at higher levels.
Nifty Levels for 7 Jan 2011
PIVOT SUPPORT 1 SUPPORT 2 RESISTANCE 1 RESISTANCE 2
6083 6032 5995 6120 6171
