Dull Opening Day: 30 December 2011
Nifty January Futures was not able to sustain at higher levels. It closed at 4634.40 and Bank Nifty closed at 7944.30. Open Interest in Nifty across all the series stood at 2.89 Cr shares and that of bank Nifty stood at 18.47 lac shares. Put Call Ratio closed at 1.06. Volatility as measured by India VIX was at 27.25. All in all it was a dull day.
In my opinion bear trend continues and it is advisable to short Nifty at higher levels with probable target of 4500 in mind.
Happy Trading
Atul Doshi
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