Due to my personal work, I was out of town and could not able to update the blog for last two days. Inconvenience is regretted. GOOD CONSOLIDATION WAS SEEN IN LAST TWO DAYS made Nifty closed at 5287.95 with a marginal gain of 9.35 points from its last close.
AS INDICATED ON LAST FRIDAY, THIS RALLY MAY CONTINUE FOR FEW MORE DAYS AND MAY TASTE ATLEAST 5370/5440 IN VERY SHORT TERM.
For today, WATCH 5305-5320 LEVEL ON THE UPSIDE ABOVE WHICH IT MAY HIT 5370 WHEREAS ON THE DOWNSIDE, 5250-60 MAY ACT AS SUPPORT BELOW WHICH 5190-5200 IS STRONG SUPPORT.
From options data (Read OI analysis page), highest options base has been shifted to 5000 & 4800 puts and 5400 & 5300 calls indicating that as of now 5000 may act as support and 5400 as resistance for the series.
AS INDICATED ON LAST FRIDAY, THIS RALLY MAY CONTINUE FOR FEW MORE DAYS AND MAY TASTE ATLEAST 5370/5440 IN VERY SHORT TERM.
For today, WATCH 5305-5320 LEVEL ON THE UPSIDE ABOVE WHICH IT MAY HIT 5370 WHEREAS ON THE DOWNSIDE, 5250-60 MAY ACT AS SUPPORT BELOW WHICH 5190-5200 IS STRONG SUPPORT.
From options data (Read OI analysis page), highest options base has been shifted to 5000 & 4800 puts and 5400 & 5300 calls indicating that as of now 5000 may act as support and 5400 as resistance for the series.
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST.
