Monday, July 6, 2009
CUES FOR JULY 7
--Nifty July future premium converted in to discount of 12 points so cost of carry decreased.
--Nifty open interest increased by 6 lacs suggests short addition. (Total OI now at 2.33cr)
--Nifty calls added 62 lacs and puts added 1.5 lacs in open interest.
--Nifty open interest put-call ratio is at 0.86.
--3800 puts had open interest of 38 lacs and 4300 calls had open interest of 35 lacs, so 3800 and 4300 will be important levels to watch for.
--India VIX closed at 39.89, decreased by 13% suggests stability.
********Positional strategy for nifty—
---IDEAL STRATEGY— INITIATE SHORT.
---CLOSING STOPLOSS FOR LONG—4240. (Stopped out)
---CLOSING STOPLOSS FOR SHORT—4433.