(Disclaimer---our clients are having short open position in nifty and dlf)
--Nifty July future discount decreased to 11 points so cost of carry increased.
--Nifty open interest decreased by 4 lacs suggests short covering. (Total OI now at 2.29cr)
--Nifty calls added 1.3 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 39 lacs and 4300 calls had open interest of 38 lacs, so 3800 and 4300 will be important levels to watch for.
--India VIX closed at 36.17, decreased by 9% suggests stability.
********Positional strategy for nifty—
---IDEAL STRATEGY— HOLD SHORT.
---CLOSING STOPLOSS FOR LONG—4196.
---CLOSING STOPLOSS FOR SHORT—4382.