Better Day: September 12, 2012
Nifty September Futures closed at 5446.95 up by 41.60
points. Bank Nifty closed at 10216.90 up by 59.40 points. Open Interest in
Nifty across all the series was up by 6 lakh shares at 2.04 Cr shares. Turnover
was up at Rs 1.17 trillion. Put Call Ratio for both Index & Stock Option
was slightly lower at 1.03 though for only Nifty for current series was up at
1.25. Volatility as measured by India VIX was down by 2% at 15.04 and Dollar
Rupee pair was also under pressure at 55.29. In all it was definitely a better
day.
As said in couple of posts, we are heading for 5500 and if
breached probably heading for 5630. Traders are advised to remain long with
stop below 5330 or for intra day traders 5390 and for slightly medium term
traders 5330. Momentum in market seems to be returning so enjoy the bull ride.
Happy Trading
Atul Doshi
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