--Nifty Feb. future discount decreased to 12 points thus cost of carry increased.
--Nifty open interest increased by 10 lacs suggests long accumulation.
--Nifty call option added 8 lacs and put option added 44 lacs.
--Put-Call Ratio increased to 1.2.
--Implied Volatility of options decreased by 100 basis points indicates bullishness.
--India VIX closed at 50.65, increased by 12% suggests instability.
--US markets closed in green. Dow was up by more than 200 points from intraday low.
--Asian markets trading strong.
--Sgx nifty trading at 2854. (Up 20)
--Open interest gainers—orbit, prism cement, SAIL, peninsula.
--Open interest losers—Ansal properties, HDFC bank, GSPL.
--Positional strategy for nifty—Hold Long with closing stop loss of 2771. (Initiated at 2843)
************CALLS FOLLOW UP AS PER FEB 6 TRADING DIARY
NOTE--These extracts from my trading diary are for educational purposes and should not be interpreted as investment or trading advice.