Profit booking made Nifty to close at 5205.10 with a loss of 37.60 points.
NOW, 5190 AND 5170 WILL ACT AS SUPPORT. ON THE UPSIDE, AS INDICATED EARLIER, 5245-50 WILL ACT AS MILD RESISTANCE. IF THE SAME IS CLEARED, 5270 AND 5287-90 WILL BE SUPPLY AREA (SELLING ZONE).
For today, WATCH 5230 LEVEL ON THE UPSIDE ABOVE WHICH NIFTY WILL TRY TO CLEAR OTHER RESISTANCE AROUND 5250 AND 5267 IN THIS SERIES WHEREAS ON THE DOWNSIDE, BELOW 5190, 5170 (BEING 200 EMA)WILL ACT AS SUPPORT. BELOW 5170, 5150 AND 5100 WILL BE NEXT SUPPORT AREA FOR THIS SERIES.
From options data (Read OI analysis page), highest options base has been shifted to 5000 & 5100 puts and 5300 & 5400 calls indicating that as of now 5100 may act as support and noteworthy addition in 5300 call indicating that this expiry may settle below 5300. 5300/5340 will act as strong resistance. 5400 will be strong resistance in this series.
NOW, 5190 AND 5170 WILL ACT AS SUPPORT. ON THE UPSIDE, AS INDICATED EARLIER, 5245-50 WILL ACT AS MILD RESISTANCE. IF THE SAME IS CLEARED, 5270 AND 5287-90 WILL BE SUPPLY AREA (SELLING ZONE).
For today, WATCH 5230 LEVEL ON THE UPSIDE ABOVE WHICH NIFTY WILL TRY TO CLEAR OTHER RESISTANCE AROUND 5250 AND 5267 IN THIS SERIES WHEREAS ON THE DOWNSIDE, BELOW 5190, 5170 (BEING 200 EMA)WILL ACT AS SUPPORT. BELOW 5170, 5150 AND 5100 WILL BE NEXT SUPPORT AREA FOR THIS SERIES.
From options data (Read OI analysis page), highest options base has been shifted to 5000 & 5100 puts and 5300 & 5400 calls indicating that as of now 5100 may act as support and noteworthy addition in 5300 call indicating that this expiry may settle below 5300. 5300/5340 will act as strong resistance. 5400 will be strong resistance in this series.
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST.
