Nifty closed at 5200.60 (lost 90.25 points). As stated on Friday, the level of 5331-35 has became strong resistance since every attempt to move past this level, is met with severe selling pressure. DUE TO EXPIRY (APRIL), MAKET MAY BE VOLATILE. For today, WATCH 5227 CAREFULLY, ABOVE THIS, NIFTY MAY MOVE TO 5250/5267 ON THE UP SIDE WHEREAS BREAKING 5190 AND 5177 MAY HIT 5150/5100 ON THE DOWNSIDE WITHIN THIS EXPIRY.
From options data,,highest options base has been shifted to 5100 put and 5400 calls. It is expected that Nifty may trade in a range of 5100-5350 for the expiry.
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST.
