Monday, July 2, 2012

EOD Analysis For 2nd July 2012 and Outlook For 3rd July 2012

OI in Nifty futures higher compared to last week; VIX is excessively cool for now

Critical levels and outlook remain unchanged for both Nifty and BankNifty. As of now, upside looks capped at 5342-5348 on closing basis [intraday uspide seems capped at 5378-5408 levels]

This section will be reviewed with 2 consecutive closes above 5348

Throughout this month, we should remember that the period from 16th July onwards has a highly potent bearish tinge and one should not get carried away by current rally

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