---Nifty is trading in a rectangle as seen above in closing levels chart.---2524-2553(previous closing bottoms) will provide some support here.
CUES-
--Nifty March future discount increased to 20 points thus cost of carry decreased.
--Nifty open interest increased by 16 lacs suggests short addition.
--Nifty call option added 36 lacs and put option added 8 lacs.
--Put-Call Ratio decreased to 1.19.
--2500 put had open interest of 93 lacs, so 2500 will be imp level to watch for.
--implied volatility decreased by 100 basis points suggests stability.
--India VIX closed at 41.56, decreased by 2% suggests stability.
--US markets closed in red.
--Asian markets trading weak.
--Sgx nifty trading at 2511. (down 45)
--Positional strategy for nifty—Hold short with closing stoploss of 2669. (Initiated at 2674).
--Nifty March future discount increased to 20 points thus cost of carry decreased.
--Nifty open interest increased by 16 lacs suggests short addition.
--Nifty call option added 36 lacs and put option added 8 lacs.
--Put-Call Ratio decreased to 1.19.
--2500 put had open interest of 93 lacs, so 2500 will be imp level to watch for.
--implied volatility decreased by 100 basis points suggests stability.
--India VIX closed at 41.56, decreased by 2% suggests stability.
--US markets closed in red.
--Asian markets trading weak.
--Sgx nifty trading at 2511. (down 45)
--Positional strategy for nifty—Hold short with closing stoploss of 2669. (Initiated at 2674).
