Monday, April 30, 2012

EOD Analysis For 30th April 2012 and Outlook For 2nd May 2012

OI in Nifty futures still hovering around the 19 million mark making it difficult to sustain upsides [1.2 million added as we approached the Europe Open session]; VIX surprisingly cool [now well below 20!!]

Would again like to remind readers that OTM option straddles / strangles may not be very fruitful as long as Nifty is trading within a tight range of 200 points and that too, in a grinding fashion

Critical Levels and Outlook remain unchanged for both Nifty and BankNifty;

As far as trading is concerned, option writers still continue to rule the roost and for investors, corrections are good to buy into for deliveries; as of now, I still feel it is difficult to go below 5032 on closing basis on Nifty for May series but markets have their own ways...... ;-)

For tomorrow let us enjoy the May Day..................

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