Nifty Hourly Charts
Nifty and Banknifty spot on the hourly charts are turned to sell mode. Currently the resistance zone comes close to 6285.5 and 13001 respectively. Index will turn to positional buy mode if the resistance breaks on the hourly charts.
BankNifty Hourly Charts
India VIX Daily Charts
On 6th March India VIX volatility index achieves the all time low of 12.5 since then within a short span of time scales to above 30 due to the upcoming election results which creates too much of expectation among the option traders. India VIX had risen more than 100% since 6th March 2014. And the election results are likely to be announced on 16th March till then markets are expected to be in sideways mode.
Open Interest Lookup
6800CE writers tried dominating the open interest group but once again 6700PE taken over for the series. So far 6700PE holds the highest open interest amoung the option series and no visible call writing or major open interest builtup on the call side as of now.