ONE MAY WATCH THE DATA AS WELL AS MARKET OUTLOOKS, AUTOMATED DAILY CALLS WITH SUPPORT AND RESISTANCE ETC. THAT ARE BEING UPDATED AUTOMATICALLY ON REAL TIME/DAILY BASIS. Nifty closed on Friday at 5676.05 with a loss of 32 points on intraday basis.
NOW, AS INDICATED LAST WEEK, 5638-5600 WILL ACT AS STRONG SUPPORT, WHEREAS ON THE UPSIDE, 5780-5800 WILL ACT AS RESISTANCE FOR THIS EXPIRY.
For today, WATCH 5700/5710 LEVEL ON THE UPSIDE, WHEREAS ON THE DOWNSIDE, BELOW 5638 AND 5600, DOWNWARD MOVE WILL CONTINUE.
From options data (Read OI analysis page), Nifty options saw significant addition of open interest at 5800 call and 5600 put strikes suggesting range bound bias. Continuous decline in implied volatilities also suggests writing among these strikes.
NOW, AS INDICATED LAST WEEK, 5638-5600 WILL ACT AS STRONG SUPPORT, WHEREAS ON THE UPSIDE, 5780-5800 WILL ACT AS RESISTANCE FOR THIS EXPIRY.
For today, WATCH 5700/5710 LEVEL ON THE UPSIDE, WHEREAS ON THE DOWNSIDE, BELOW 5638 AND 5600, DOWNWARD MOVE WILL CONTINUE.
From options data (Read OI analysis page), Nifty options saw significant addition of open interest at 5800 call and 5600 put strikes suggesting range bound bias. Continuous decline in implied volatilities also suggests writing among these strikes.
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST.
