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Nifty Futures Outlook - 28/01/2011
• Nifty opened flat after which it witnessed blood bath on expiry day to end with deep cuts.
• Nifty Spot manage to close above 5600 mark.
• Nifty February futures closed at 23 points premium.
• Nifty price and OI data indicate short build up.
• Outlook for Nifty in coming session remains negative but a short covering rally cannot be ruled out.
• Volatility India index VIX closed at 22.09 gained 6.3% as market ended
with deep cuts and therefore was amidst volatile session.
• PCR (volume) is at 0.94, as call writing is been witnessed.
• Call writing seen in Nifty Feb strikes of 5500, 5600, 5700 and 5800 call.
• Long build up is witnessed at Nifty 5500 and 5600 Feb Put.
• On basis of option data near term range for the market is seen in between 5500– 5800.
• Sugar sector had a bitter session as stocks saw huge shorts piled up.
• Infrastructure saw huge short build up as stocks like LITL, IVRCL etc
tank down the sector heavily. • Fertiliser sector ended with losses as
Tata chemical, Chambal etc pulled the sector down.
• All major sectors in market ended with cuts.
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Added by: gopalbagani
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