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 THAT ARE BEING UPDATED AUTOMATICALLY ON REAL TIME/DAILY BASIS.
Nifty closed on Friday at 5366.30 with a marginal gain of 3.35 points after giving of its intraday gain.
NOW, 5290 WILL ACT AS STRONG SUPPORT. AS INDICATED LAST WEEK, 5380/5400 MAY ACT AS RESISTANCE. ABOVE 5380/5400, GATE WILL OPEN FOR 5440/5500.
For today, WATCH 5355 LEVEL AS SUPPORT. BELOW 5355 LEVEL, IT MAY HIT 5340/5310 AND EVEN 5290 ON INTRADAY BASIS. ON THE UPSIDE 5380/5400 MAY ACT AS RESISTANCE.
From options data (Read OI analysis page), major activity was seen in strikes of 5400 and 5300 Put during the week. At present, 5300 Put commands OI of over 9.1 million shares, which means a critical support. Among Call strikes, OTM activity continued in 5500 and 5600 Call strike though price remained subdued, and suggests a writing bias at these levels.
Trend of closure in positions continued. Closure in pharma sector and profit booking in the FMCG sector was seen during the last week. Among heavyweights, ITC saw long closure.
Nifty closed on Friday at 5366.30 with a marginal gain of 3.35 points after giving of its intraday gain.
NOW, 5290 WILL ACT AS STRONG SUPPORT. AS INDICATED LAST WEEK, 5380/5400 MAY ACT AS RESISTANCE. ABOVE 5380/5400, GATE WILL OPEN FOR 5440/5500.
For today, WATCH 5355 LEVEL AS SUPPORT. BELOW 5355 LEVEL, IT MAY HIT 5340/5310 AND EVEN 5290 ON INTRADAY BASIS. ON THE UPSIDE 5380/5400 MAY ACT AS RESISTANCE.
From options data (Read OI analysis page), major activity was seen in strikes of 5400 and 5300 Put during the week. At present, 5300 Put commands OI of over 9.1 million shares, which means a critical support. Among Call strikes, OTM activity continued in 5500 and 5600 Call strike though price remained subdued, and suggests a writing bias at these levels.
Trend of closure in positions continued. Closure in pharma sector and profit booking in the FMCG sector was seen during the last week. Among heavyweights, ITC saw long closure.
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST.
