********Positional strategy for nifty—
---IDEAL STRATEGY— HOLD SHORT.
---Do not hold long if closes below—3978.
--- Do not hold short if closes above —4083.
********CUES--
--Nifty July future discount decreased to 8 points so cost of carry increased.
--Nifty open interest decreased by 2 lacs suggests short covering. (Total OI now at 2.35cr)
--Nifty calls added 8 lacs and puts shed 3 lacs in open interest.
--Nifty open interest put-call ratio is at 0.81.
--3800 puts had open interest of 48 lacs and 4100 calls had open interest of 28 lacs, so 3800 and 4100 will be important levels to watch for.
--India VIX closed at 36.58 increased by 2% suggests instability.
---IDEAL STRATEGY— HOLD SHORT.
---Do not hold long if closes below—3978.
--- Do not hold short if closes above —4083.
********CUES--
--Nifty July future discount decreased to 8 points so cost of carry increased.
--Nifty open interest decreased by 2 lacs suggests short covering. (Total OI now at 2.35cr)
--Nifty calls added 8 lacs and puts shed 3 lacs in open interest.
--Nifty open interest put-call ratio is at 0.81.
--3800 puts had open interest of 48 lacs and 4100 calls had open interest of 28 lacs, so 3800 and 4100 will be important levels to watch for.
--India VIX closed at 36.58 increased by 2% suggests instability.
