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NIFTY INTRADAY TIPS FOR 2 Feb 2011

The Nifty Index in last trading session once again continued its downward ride and ended in deep red at 5417.20 losing 1.61%. On the derivatives front we have seen that the Nifty Futures prices have ended in the red along with an overall addition of open interest and decline in the cost of carry, this is an indication of short built up in the markets. On the options front the OI PCR is currently trading at 1.15 levels whereas the Volume PCR is trading at 0.88 levels. On the volatility front the Indian Volatility Index (VIX) ended with gains of 1.36% indicating bearish sentiments are heavy.

ACTION  TRIGGER PRICE  STOP LOSS  TARGET-1  TARGET-2
SELL AT           5435            5460         5365        5300  

Nifty Intraday Levels for 2 Feb
SUPPORT 1  SUPPORT 2  RESISTANCE 1  RESISTANCE 2 
  5365              5360           5365                   5300   

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Intraday Tips Updated at: 7:48 PM
 
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