----After spending 5 months in 2500-3200 range, nifty had broken the rectangle on the upside with good volume.
CUES-
--Nifty April future premium increased to 11 point so cost of carry increased.
--Nifty open interest increased by 16 lacs suggests long addition. (Total OI 3.98 cr)
--Nifty call option shed 2 lacs and put option added 47 lacs.
--Put-Call Ratio increased to 1.67.
--3000 puts had open interest of 63 lacs, so it will be important level to watch for.
--Implied volatility increased by 100 points suggests instability.
--India VIX closed at 37.40, increased by 2% suggests instability.
--US markets closed in green.
--Asian markets trading positive.
--Sgx nifty trading at 3316. (Up 84)
--Positional strategy for nifty—Hold long with closing stop loss at 2998. (Initiated at 3211)
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