Higher than expected Inflation data that reduced the possibility of aggressive monetary easing by RBI made Nifty to close at 5054.75 with a huge loss of 66.70 points.
For today, IF NIFTY ABLE TO CROSS 5080 WITH VOLUME, THEN NIFTY WILL HIT AGAIN 5133/5149 IN SHORT TERM WHEREAS ON THE DOWNSIDE, 5020/4970 WILL BE SUPPORT.
From options data (Read OI analysis page),,highest options base has been shifted to 4800 & 4500 put and 5200 & 5100 calls. As of now, for June series, 4760/4800 may act as support and 5182/5220 may act as resistance.
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST.
