DUE TO HEALTH PROBLEM, I AM NOT IN A POSITION TO UPDATE ON DAILY BASIS. HOWEVER, WILL TRY TO UPDATE ON WEEKLY BASIS. ONE MAY WATCH THE DATA AS WELL AS AUTOMATED DAILY CALLS WITH SUPPORT AND RESISTANCE THAT ARE BEING UPDATED AUTOMATICALLY ON REAL TIME/DAILY BASIS.
Nifty closed on Friday at 5386.70 with a loss of 28.65 points on intraday basis whereas a gain of 20.40 points on weekly basis.
AS INDICATED LAST WEEK, NIFTY FACED RESISTANCE AROUND 5440 (MADE 5 MONTHS HIGH OF 5449)AND CLOSED ON A MILD NEGATIVE BIAS. SUPPORT WILL BE 5340-5348/5290 WHEREAS RESISTANCE WILL AROUND 5450. ABOVE 5450, IF NIFTY ABLE TO TRADE IT MAY HIT 5510 AND 5580. DUE TO EXPIRY WEEK, VOLATILITY MAY BE SEEN.
For today, WATCH 5348/5350 LEVEL AS SUPPORT. BELOW 5345 LEVEL, IT MAY HIT 5310 AND EVEN 5290 ON INTRADAY BASIS. ON THE UPSIDE 5400 AND 5440 MAY ACT AS RESISTANCE.
From options data (Read OI analysis page), highest concentration of call option is at 5500-strike call option, which has more than 1 crore shares. Among put options, the highest open interest is at the 5300 and 5000 strike, with an open interest around 1 crore shares. The high options build-up in the 5500 call and 5300 put strikes indicate possible market range for current expiry. Any breakout on either side from this range may shoot the volatility and momentum.
Nifty closed on Friday at 5386.70 with a loss of 28.65 points on intraday basis whereas a gain of 20.40 points on weekly basis.
AS INDICATED LAST WEEK, NIFTY FACED RESISTANCE AROUND 5440 (MADE 5 MONTHS HIGH OF 5449)AND CLOSED ON A MILD NEGATIVE BIAS. SUPPORT WILL BE 5340-5348/5290 WHEREAS RESISTANCE WILL AROUND 5450. ABOVE 5450, IF NIFTY ABLE TO TRADE IT MAY HIT 5510 AND 5580. DUE TO EXPIRY WEEK, VOLATILITY MAY BE SEEN.
For today, WATCH 5348/5350 LEVEL AS SUPPORT. BELOW 5345 LEVEL, IT MAY HIT 5310 AND EVEN 5290 ON INTRADAY BASIS. ON THE UPSIDE 5400 AND 5440 MAY ACT AS RESISTANCE.
From options data (Read OI analysis page), highest concentration of call option is at 5500-strike call option, which has more than 1 crore shares. Among put options, the highest open interest is at the 5300 and 5000 strike, with an open interest around 1 crore shares. The high options build-up in the 5500 call and 5300 put strikes indicate possible market range for current expiry. Any breakout on either side from this range may shoot the volatility and momentum.
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST.
