EOD Analysis For 26th July 2012 and Outlook For 27th July 2012

OI in Nifty futures pretty high today due to expiry and as expected, with 2 closes below 5169, Nifty went into retesting 5032-5092 band. Bulls must ensure that 5032 is retained on closing basis or else Nifty is near certain to take a steep cut of another 144 odd points. Also tomorrow being the weekly close, this level has more significance

Short covering can take Nifty upto 5169 but strength only after it closes above it for 2 consecutive sessions

Illustrative Charts for reference

EOD Analysis For 25th July 2012 and Outlook For 26th July 2012

OI in Nifty futures hovering around the 33 million level and VIX not reflecting price action appropriately

Critical levels and outlook remain unchanged for both Nifty and BankNifty

5032-5092 is a critical support band and going below that on closing basis means more pain for bulls
Short-covering can take Nifty to the congestion band of 5169-5177-5196 and strength to be confirmed only above 5225

EOD Analysis For 24th July 2012 and Outlook For 25th July 2012

OI in Nifty futures hovering around 32 million today and VIX is too low

Critical levels and outlook remain unchanged for both Nifty and BankNifty

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