Bullish Day: September 11, 2012
Nifty September Futures closed higher by 33.70 points at
5405.35. Bank Nifty closed at 10157.50 up by 61.50 points. Open Interest in
Nifty across all the series was up by 10.23 lakh shares at 1.98 Cr shares. Turnover
was up at Rs 991 bn. Put Call Ratio across all the series for both Index &
Stock Option was almost unchanged at 1.08. Volatility as measured by India VIX
was up at 15.38 and Dollar Rupee pair was trading slightly lower at 55.46. In
all it was better day with Bulls bouncing back in action as evident from
increase in Open Interest.
As said yesterday Nifty kissed 5400 today and was in process
of touching 5500 in coming days. My advice to traders is to punt on Bull side
with stop loss placed below 5330 in short term and 5200 in medium term.
Happy Trading
Atul Doshi
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