CUES-
--Nifty May future premium increased to 9 points so cost of carry increased..
--Nifty open interest decreased by 89 lacs suggests short covering. (Total OI now at 3.64 cr)
--3400 puts had open interest of 31 lacs(+13 lacs) and 3500 calls had open interest of 21 lacs(+5 lacs), so 3400 and 3500 will be important levels to watch for.
--India VIX closed at 46.63, decreased by 4% suggests stability.
--Market wide rollover was 75.64 %, whereas rollover in Nifty
futures was 74.03 %.
--Reliance Communications , IFCI , DLF , Indian
Tobacco Company and Idea Cellular witnessed good
rollover in the next series.
---Unitech , ICICI Bank , Jaiprakash Associates
and Suzlon Energy witnessed poor rollover in the next
series.
--Positional strategy for nifty—
---IDEAL STRATEGY—NEUTRAL.
---CLOSING STOPLOSS FOR LONG—3384.
---CLOSING STOPLOSS FOR SHORT—3492.
