Listless Day: September 13, 2012
Nifty September Futures closed mildly up by 3.75 points at
5450.70. Bank Nifty closed up by 9 points at 10225.90. Open Interest in Nifty
was up by 3.75 lakh shares at 2.08 Cr shares. Turnover was slightly less at Rs
819 bn. Put Call Ratio for both Index & Stock Option across all the series
was up at 1.08 though only for Nifty in current series it was down at 1.20. Volatility
as measured by India VIX was up at 15.67 by 4% and Dollar Rupee pair was also
trading slightly higher at 55.46. In it was a cautious day ahead Fed Chairman
Ben Bernanke’s Statement on Friday.
I still stick to my opinion that we will go and kiss 5500 in
coming days and if we close above 5500 than we will reach 5630. It is advisable
to trade with strict stop loss as much awaited and important event has always
potential to manipulate the market in either direction. It seems that under
current is strong and market might gain further.
Happy Trading
Atul Doshi
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