Nifty may trade in 5770-5930 range: Aditya Birla Money

Nifty PCR_OI flat at 0.88 (well below 1) with 5900 and 6000 CE witnessing addition of 1.1 and addition of 0.4 lakh shares respectively; Total OI 60 and 103 lakh shares. On other hand 5800 PE saw addition of 1 lakh shares with total OI at 76 lakh shares ( PCR-OI of 5800 well below 1 at 4.22) implying immediate short term Nifty may trade in a range 5770-5930. INDIA VIX corrected 1% towards16.79 however well above 15 levels; We have to watch this level carefully if it remains above 15- 15.5 levels, Bears will have upper hand and Nifty may face stiff resistance every rebound rally at 5930-5980. 

FIIs were sellers in Nifty Fut. Rs 699 Cr. (selling in Index Fut.; continues last week sold 1810 Cr, some fresh shorts); post 2 day buying selling seen in Index Options 352 Cr ( 7446 Cr. bought in last 12 sessions, hedging unwounded), stock futures continue to be buyers 371 Cr; continue to be buyers in cash to the tune of 280 Cr. volumes and participation dipped in cash front, on F & O front hedging unwound, expecting VIX to stabilize, Index Future still sellers implying Nifty may trade in range 5770-5930 levels.

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