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    Genie's View - 15/5/09

    Nifty May future premium increased to 10 points so cost of carry increased.

     
    Nifty open interest increased by 7 lacs suggests long addition.
     
    3500 puts had open interest of 40 lacs and 3800 calls had open interest of 41 lacs,
    so 3500 and 3800 will be important levels to watch for.
     
    India VIX closed at 51.25, increased by 1% suggests instability.
     
    US markets closed in green.
    Asian markets trading positive.
    Sgx nifty trading at 3635. (up 13)
     
    Positional strategy for nifty—
    IDEAL STRATEGY—NEUTRAL.
    CLOSING S/L FOR LONG—3551
    CLOSING S/L FOR SHORT—3680