8:47 AM
Unknown
Nifty August futures closed at a premium over 12 points, along with a low put-call ratio of 1.12. The Nifty call option implied volatility stood at 18.61 comparing with 16.58 for Nifty put. All these indications are in favour of bull operators. The Nifty may get support at 5365 and resistances will be at 5681 (100 DMA) and 5700 (200DMA) levels. As the put-call ratio is below 1.20, there are chances of overhead supply in the market, but not expecting any major sell-off otherwise the volatility can increase in the short term. While examining the put options, the open interest of 5300 strike has shed, indicating that the market will have strong support above 5300 levels in the short term. As indicators are giving mixed trend, the market may remain in a trading range rather than moving sharply to a particular direction. Investors, who expect the Nifty to test 5700 in August.
So as my opinion Market can stay in this level and any rise to 5700 we can initiate Fresh Short