Intraday View For 29/01/13

Nifty: Resistance 6090/6105/6130/6150
           Support 6070-65/6050/6030/6005/5980   

Nifty, as expected, had a flat opening & closing. Traders should remain cautious ahead of RBI Policy as hopes are high for the rate cuts. And whenever hopes are high generally market falls sharply in case these are not fully met by policy. Also market has already factored in 25 BPS cut.
Intraday Nifty may open flat & may trade in a range ahead of RBI quarterly policy review meeting today. Intra on break of 6065 on downside, Nifty may see some selling pressure coming in towards 6030 & lower. On upside abv 6090-6100, Nifty may see 6130.


 Nifty F&O Cues: Nifty futures added 13.1 lk shares in Open Interest (OI).
Nifty 6000 call shed 2 lk shares in OI Nifty 6100 call added 5.1 lk shares in OI Nifty 6200 call shed 2.8 lk shares in OI.
Nifty 5800 put shed 1.9 lk shares in OI Nifty 6000 put added 1 lk shares in OI Nifty 6100 put added 6.3 lk shares in OI.

Trade with levels.
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