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Intrady Nifty Tips for Thursday 17 February 2011

The Nifty Index in last trading session ended flat at 5481.70. On the derivatives front we have seen that the Nifty Futuresprices ended flat along with an overall addition of open interest and increase in the cost of carry, this is an indication of some longs being built in it at lower levels. On the options front we have seen that the OI PCR has ended at 1.26 levels vs. 1.17 whereas the Volume PCR has ended at 1.06 levels vs. 0.99 levels, this is mainly seen on account of addition of open interest on puts front whereas shredding of open interest was witnessed on calls front. On the volatility front the Indian Volatility Index (VIX) has ended at 23.05% gaining nearly a percent indicating that the volatility in the markets has increased.

The support for the Nifty is at 5375 and resistance at 5490-5560

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Intraday Tips Updated at: 7:31 PM
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