Listless Closing: August 17, 2012
Nifty August Futures closed absolutely flat at 5382.35. Bank
Nifty closed at 10460.95 down by 11.75 points. Open Interest in Nifty across
all the series was down by 1 lakh shares at 2.80 Cr shares. Turnover was
smartly up at Rs 1.25 trillion. Put Call Ratio was at 1.11 slightly up from
yesterday’s level. Volatility as measured by India VIX was at 15.73 almost
unchanged from yesterday’s level. Dollar Rupee pair was trading at 55.79 down
from yesterday’s level. Nifty traded in a range of 5350-5425. In all it was a
day of consolidation amidst gyrations from news of coal scam although it gave a
listless closing.
I still hold my positive view as long as Nifty remains above
5300 in short term and 5200 for slightly medium term. VIX is trading at its
lowest point and some upward correction is due which in turn will cap up move
in Nifty for short term. Once VIX completes it correction, up move in Nifty
will resume which might take us to 5500 and beyond that 5630. In extremely
short run we might visit support area of 5200-5300. Trading is advisable
strictly with stop loss.
Happy Trading
Atul Doshi
A very informative post on derivative contract it is. Got to learn a lot here. To hedge against future price risk derivative contract is a very good option. For live updates on stock market follow epic research .
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