Wednesday, February 8, 2012

EOD Analysis For 8th February 2012 and Outlook For 9th February 2012

Volumes were higher in Nifty today with OI in Nifty futures hovering around 30 million with the spiked fall and subsequent rise [sharp spikes indeed on either side]. VIX was hovering around a shade below 25 and the last hour spike brought it marginally above 24; sectoral churns doing the needful but the key thing is dips are being bought into. With these volumes, and positive global cues, definitely more upside is possible [on the other hand, should there be negative cues, these volumes are good enough to trigger sharp corrections]

Critical levels and outlook remain unchanged.

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