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Nifty Futures Outlook - 31/01/2011
• Nifty continued its negative moves from where it left yesterday.
Intraday Nifty went down below the 5500 mark before having a small bit
recovery to close above 5500 mark.
• Nifty February futures closed at 24.5 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 22.58 gained 2.22% as market ended with deep cuts
• PCR (volume) is at 1.06, as fresh long buying in puts has been witnessed
• Call writing seen in Nifty Feb strikes of 5500, 5600, 5700 and 5800 call.
• Long build up is witnessed at Nifty 5400 and 5500 Feb Put.
• On basis of option data near term range for the market is seen in between 5400– 5800.
• Realty sector was beaten down heavily as stocks like DLF, HDIL were witnessing huge short build up.
• Media sector lost ground as sector witnessed huge short build of around 13%.
• Banking sector contributed least to Nifty’s fall as sector was down only 1.4%.
• All sectors ended with deep cuts.
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