The Nifty Index in last trading session ended with losses of 1.48% at 5449.65. On the derivatives front we have seen that the Nifty Futures prices ended in the red along with an overall addition of open interest and decline in the cost of carry, this is an indication of shorts being built at higher levels. On the options front the OI PCR has ended at 1.29 vs. 1.33 whereas the Volume PCR has ended at 1.30 vs. 1.09. On the Volatility Front the Indian Volatility Index has ended at 26.63% gaining 14.29% indicating high degree of volatility in the markets.
Nifty Intraday Tips 16th March 2011
ACTION PRICE STOP LOSS TARGET-1 TARGET-2
SELL ABOVE 5480 5515 5385 5290
Nifty Intraday Levels for 16 March 2011
SUPPORT 1 SUPPORT 2 RESISTANCE 1 RESISTANCE 2
5385 5290 5510 5565
