In spite of RBI's measure to strengthen Rupee by hiking ECB limit, FII limit for holding in G-Secs etc., Nifty ended at 5114.65 with a loss of 31.40 points, since the measurement taken by Govt. to boost the market disappointed market-men. As expected, Nifty is facing strong resistance around 5095-5200 level for the last several days.
For today, WATCH 5133 AND 5150 LEVEL CAREFULLY. IF NIFTY ABLE TO TRADE ABOVE THIS LEVEL, NIFTY WILL TRY TO HIT 5182/5200. ON THE DOWNSIDE, 5100 AND 5070/5050 WILL ACT AS SUPPORT. DUE TO EXPIRY WEEK, VOLATILITY WILL BE SEEN.
From options data (Read OI analysis page),,highest options base has been shifted to 5000 & 4800 put and 5200 & 5300 calls. As of now, for June series, 4970/5000 will act as strong support and 5195/5220 will act as strong resistance.
For today, WATCH 5133 AND 5150 LEVEL CAREFULLY. IF NIFTY ABLE TO TRADE ABOVE THIS LEVEL, NIFTY WILL TRY TO HIT 5182/5200. ON THE DOWNSIDE, 5100 AND 5070/5050 WILL ACT AS SUPPORT. DUE TO EXPIRY WEEK, VOLATILITY WILL BE SEEN.
From options data (Read OI analysis page),,highest options base has been shifted to 5000 & 4800 put and 5200 & 5300 calls. As of now, for June series, 4970/5000 will act as strong support and 5195/5220 will act as strong resistance.
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST.
