Turnover was unusally high for the second successive day with high volatility. We saw high volumes in the 4200 call. The gap between the June and the July Nifty futures was around 70 points. June future saw a great short covering in the end. The was due to short covering in the current month and fresh short built up in the next month future contract. We will see some rude shocks in the month of July. Nifty saw a rollover of around 70%. May series put-call ratio was 1.18 and the June series at 2.34. This simply means that there isa huge demand for the puts options and there are hardly anyone willing to write the puts.
Nifty closed above at 4315. Sensex closed at 14421. We can clearly see in the chart, that the Nifty will have a good resistance. Nifty may again come down to 4050 levels to test the same.
Dont be in haste to buy.
No comments:
Post a Comment