CUES-
--Nifty May future premium decreased to 3 points so cost of carry decreased.
--Nifty open interest decreased by 18 lacs suggests long unwinding. (Total OI now at 3.83 cr which is very light)
--3600 puts had open interest of 43 lacs and 3800 calls had open interest of 38 lacs, so 3600 and 3800 will be important levels to watch for.
--India VIX closed at 50.73, increased by 1% suggests instability.
--US markets closed in red.
--Asian markets trading negative.
--Sgx nifty trading at 3550. (down 85)
--Positional strategy for nifty—
---IDEAL STRATEGY—NEUTRAL.
---CLOSING STOPLOSS FOR LONG—3560.
---CLOSING STOPLOSS FOR SHORT—3690.
