Wish you all blog visitors, my well wishers and friends a very
WISHES FROM JAY AND FAMILY 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 5908.35 with a huge gain of 60.65 points (+1.04%) on intraday basis.
CONSOLIDATION BETWEEN 5823-5965 WAS SEEN FOR THE LAST FOUR WEEKS. NOW, WATCH 5823/5825 CLOSELY WHICH WAS THE LAST SWING LOW (5823) FOR SUPPORT BELOW WHICH NIFTY MAY GET ANOTHER SUPPORT AT 5800 LEVEL. IF 5800 TOO BREACHED, WE MAY EXPECT 5700 IN SHORT TERM. ON THE OTHER SIDE, 5965 WILL BE RESISTANCE. ABOVE WHICH 6000 AND 6100 WILL BE POSSIBLE IF THERE IS ANY GOOD NEWS FROM GLOBAL SIDE ON 'FISCAL CLIFF'.
For today and this week, WATCH 5965 LEVEL ON THE UPSIDE. ABOVE 5965, THERE IS EVERY CHANCE FOR NIFTY TO HIT 6000 AND EVEN 6100 WHEREAS ON THE DOWNSIDE, BELOW 5888, 5850 AND 5800 MAY COME. IN ANY CASE, IF 5780 BREAKS, NEXT STRONG SUPPORT WILL BE AROUND 5708.
From options data (Read OI analysis page), highest build-up positions was seen at 5800 PUT and 6000 CALL in January series. This build-up indicates continuous range-bound movement. However, stock specific movement may be seen in this series. Currently, market will trade between 5800 and 6000.
Nifty closed on Friday at 5908.35 with a huge gain of 60.65 points (+1.04%) on intraday basis.
CONSOLIDATION BETWEEN 5823-5965 WAS SEEN FOR THE LAST FOUR WEEKS. NOW, WATCH 5823/5825 CLOSELY WHICH WAS THE LAST SWING LOW (5823) FOR SUPPORT BELOW WHICH NIFTY MAY GET ANOTHER SUPPORT AT 5800 LEVEL. IF 5800 TOO BREACHED, WE MAY EXPECT 5700 IN SHORT TERM. ON THE OTHER SIDE, 5965 WILL BE RESISTANCE. ABOVE WHICH 6000 AND 6100 WILL BE POSSIBLE IF THERE IS ANY GOOD NEWS FROM GLOBAL SIDE ON 'FISCAL CLIFF'.
For today and this week, WATCH 5965 LEVEL ON THE UPSIDE. ABOVE 5965, THERE IS EVERY CHANCE FOR NIFTY TO HIT 6000 AND EVEN 6100 WHEREAS ON THE DOWNSIDE, BELOW 5888, 5850 AND 5800 MAY COME. IN ANY CASE, IF 5780 BREAKS, NEXT STRONG SUPPORT WILL BE AROUND 5708.
From options data (Read OI analysis page), highest build-up positions was seen at 5800 PUT and 6000 CALL in January series. This build-up indicates continuous range-bound movement. However, stock specific movement may be seen in this series. Currently, market will trade between 5800 and 6000.
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST.
