The Nifty Index faced resistance at higher levels and was unable to cross its 5500 mark. On the derivatives front we have seen that the Nifty Futures slipped from day's high along with decline in the cost of carry and open interest, this is an indication of unwinding by the longs at higher levels. On the options front the OI PCR ended at 1.16 levels whereas the Volume PCR ended at 0.86 levels. The Indian Volatility Index(VIX) ended with decline of nearly a percent at 23.52% indicating some respite.
ACTION TRIGGER PRICE STOP LOSS TARGET-1 TARGET-2
BUY AT 5440 5400 5470 5520
Nifty Intraday Levels for 3 Feb
SUPPORT 1 SUPPORT 2 RESISTANCE 1 RESISTANCE 2
5400 5330 5470 5520
