Nifty shown a recovery from 5050 level after its lackluster opening and finally Nifty closed above 5100 (at 5103.85) with a gain of 39.60 points.
For today, WATCH 5100/5110 LEVEL CAREFULLY. IF NIFTY ABLE TO TRADE ABOVE 5110 WITH VOLUME, THEN ONLY NIFTY MAY GAIN ITS UPWARD MOTION. 5155/5182 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 & 5000 put and 5200 & 5300 calls. As of now, for June series, 4760/4800 will act as strong support and 5280/5300 (beyond 5182/5220) will act as strong resistance.
For today, WATCH 5100/5110 LEVEL CAREFULLY. IF NIFTY ABLE TO TRADE ABOVE 5110 WITH VOLUME, THEN ONLY NIFTY MAY GAIN ITS UPWARD MOTION. 5155/5182 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 & 5000 put and 5200 & 5300 calls. As of now, for June series, 4760/4800 will act as strong support and 5280/5300 (beyond 5182/5220) will act as strong resistance.
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST.
