Monday, July 23, 2012

EOD Analysis For 23rd July 2012 and Outlook For 24th July 2012

OI in Nifty futures higher as we head into expiry week and it clocked 30 million with the fall today
VIX is certainly not reflecting the reality in prices [and this holds true at the moment across the bourses]

Critical levels remain unchanged for both Nifty and BankNifty; with a close below 5169, Nifty is near certain to test 5032-5092 band; holding 5032 will be crucial on closing basis as going below that would imply steeper cuts. On the upside, 5348 seems to be the upper limit for Nifty in July

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