In today trading sessions, towards second half, we have observed increase in open interest by 4.3% with premium increasing to 10 points which implies Long built-up. PCR at current level indicates the market to have limited downside. On Options front, we have seen more call activity than put but the activity was seen at higher levels. 5,600 and 5,800 CE added fresh open interest of 7.9 and 3.3 lacs shares. However, fresh PE writing was seen at 5,500 and 5,600 of 2.5 and 2.9 lacs shares. Concentration of CE and PE stands at 5,600 and , 5,400. We expect positive momentum would continue and till 5,600. The traders who have created long position at 5,400 should book partial profits at 5,600 and rest at 5,650.
India VIX (Inverse relationship between Nifty and Indian VIX)
· Volatility for 9th March, 2011 close at 23.3 which is 1.7% lower as compared to previous close, after touching an intraday high of 24.2 and low of 22.6.
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