0 Nifty Weekly

Weekly Update 30th July to 3rd August 2012

Nifty : Was consistently in heavy selling pressure during the week till expiry However, in Friday’s session, positive global cues ensured a gap up opening but a weak set of Q1FY13 numbers from PSU banks capped the upsides. At the end, the index closed negative for the week at 5099.85 (down over 2% on weekly comparison). Midcap stocks have seen heavy selling pressure. Banking continued to see weakness and PSU banks saw sharper cuts when compared with their private counterparts.

VIX : After the sharp rise on Monday’s trade to 18.6, it continued to remain subdued and made a new low in Friday’s session. On a weekly basis, it declined by another 12%. A bounce in volatility cannot be ruled out given RBI’s Policy review in Tuesday’s trading session.

Option Segment : OI was added at the 5000 Put of over 7.5 million shares while on the Call side, the OI is spread across strikes of 5300-5500 of approximately 4 million shares in each of the strikes.

Levels :

Buy Nifty(Spot) above 5170 T1: 5200 T2: 5236 T3: 5272 T4: 5309 T5: 5345 T6: 5382 SL: 5030

Sell Nifty(Spot) below 5030 T1: 4997 T2: 4962 T3: 4927 T4: 4892 T5: 4857 T6: 4822 SL: 5170

Update (31.07.2012) : Nifty Spot touched our TG2 and closed in positive. 5270 is max i could see in this week so safe traders can book their profits and rest all can trail.
Update (06.08.2012) : Last week Nifty positional TG3 done...Book in full and exit all your positions. We will enter again as per this weeks levels.