Disappointing RBI Credit Policy (keeping rates unchanged) alongwith FITCH rating's cut its credit outlook for India to negative from stable made Nifty to close at 5064.25 with a huge loss of 74.80 points.
For today, IF NIFTY ABLE TO CROSS 5100 WITH VOLUME, THEN ONLY NIFTY MAY GAIN ITS UPWARD MOTION. 5100 AND 5155 WILL BE RESISTANCE NOW. ON THE DOWNSIDE, 5000/4960 WILL BE SUPPORT.
From options data (Read OI analysis page),,highest options base has been shifted to 4800 & 4500 put and 5200 & 5300 calls. As of now, for June series, 4760/4800 may act as strong support and 5182/5220 may act as strong resistance.
For today, IF NIFTY ABLE TO CROSS 5100 WITH VOLUME, THEN ONLY NIFTY MAY GAIN ITS UPWARD MOTION. 5100 AND 5155 WILL BE RESISTANCE NOW. ON THE DOWNSIDE, 5000/4960 WILL BE SUPPORT.
From options data (Read OI analysis page),,highest options base has been shifted to 4800 & 4500 put and 5200 & 5300 calls. As of now, for June series, 4760/4800 may act as strong support and 5182/5220 may act as strong resistance.
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST.
