Nifty on the hourly charts turned to positional buy mode very recently with support coming around 7234. Reverse your position to positional sell mode if the support zone breaks on the hourly charts. However on contrary banknifty maintains the positional sell mode with resistance zone comes around 15432 and trading very close to the resistance zone. Reverse your position to positional buy mode if the resistance zone breaks on the hourly charts.
June Option Series Open Interest Lookup
The June Option series Open Interest picture shows 7500CE call writers are active so far which in turn reflects a possible resistance around 7500 on EOD basis. 7000PE on the put side has the higher open interest on the put side however far less when compared to 7500CE. As the option series is very new it is still very early to judge the based on the open interest view but still observing the open interest gives you more idea about this dynamic market.
India VIX hourly charts
India VIX is in strong and prolong sell mode since the election 2014 results. Currently the hourly resistance comes around 19.57. The Lower VIX shows naked option players are not much greedy as they are in May 2014 Election results season.