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 5686.25 with a loss of 52.50 points (-0.91%) on intraday basis.
NOW, AS INDICATED EARLIER, 5680 IS A SUPPORT BELOW WHICH 5638-5630 WILL ACT AS STRONG SUPPORT, WHEREAS ON THE UPSIDE, 5780-5800 WILL ACT AS RESISTANCE. FOR THE TIME BEING, IT SEEMS THAT ANY DECENT BREAKOUT WILL DECIDE THE MARKET FATE.
For today and this week, WATCH 5735 LEVEL ON THE UPSIDE. ABOVE 5735, THERE IS EVERY CHANCE FOR NIFTY TO HIT 5800 AGAIN WHEREAS ON THE DOWNSIDE, BELOW 5630, 5580 MAY COME.
From options data (Read OI analysis page), Nifty options base at 5600 and 5700 Put strengthened and on the Call side 5900 and 6000 strikes saw maximum OI addition. Currently, the highest Put base is at 5600 Put and 6000 Call.
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST.
