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 5879.60 with a gain of 28.10 points (+0.48%) on intraday basis but dipped 27.80 points (-0.47%).
NOW, 5907 AND 5950 WILL BE RESISTANCE, ABOVE WHICH 5950 AND 6000 WILL BE POSSIBLE. ON THE OTHERSIDE, 5820 AND 5800/5780 WILL BE ACT AS SUPPORT. ANY FAVOURABLE DECISION FROM RBI MONETARY POLICY DUE MAY SHIFT NIFTY ABOVE 6000. HOWEVER, FOR THE TIME BEING, IT SEEMS THAT NIFTY WILL TRADE BETWEEN 5800-5950 FOR SOME TIME.
For today and this week, WATCH 5950 LEVEL ON THE UPSIDE. ABOVE 5950, THERE IS EVERY CHANCE FOR NIFTY TO HIT 6000 WHEREAS ON THE DOWNSIDE, BELOW 5850, 5800 AND 5780 MAY COME. IN ANY CASE, IF 5780 BREAKS, NEXT STRONG SUPPORT WILL BE AROUND 5708.
From options data (Read OI analysis page), though put options open interest remains intact, but OTM call strikes continues to add positions. Open interest in 6000 call strike have already surpassed 10 millions. Currently, market will trade between 5800 and 6000.
Nifty closed on Friday at 5879.60 with a gain of 28.10 points (+0.48%) on intraday basis but dipped 27.80 points (-0.47%).
NOW, 5907 AND 5950 WILL BE RESISTANCE, ABOVE WHICH 5950 AND 6000 WILL BE POSSIBLE. ON THE OTHERSIDE, 5820 AND 5800/5780 WILL BE ACT AS SUPPORT. ANY FAVOURABLE DECISION FROM RBI MONETARY POLICY DUE MAY SHIFT NIFTY ABOVE 6000. HOWEVER, FOR THE TIME BEING, IT SEEMS THAT NIFTY WILL TRADE BETWEEN 5800-5950 FOR SOME TIME.
For today and this week, WATCH 5950 LEVEL ON THE UPSIDE. ABOVE 5950, THERE IS EVERY CHANCE FOR NIFTY TO HIT 6000 WHEREAS ON THE DOWNSIDE, BELOW 5850, 5800 AND 5780 MAY COME. IN ANY CASE, IF 5780 BREAKS, NEXT STRONG SUPPORT WILL BE AROUND 5708.
From options data (Read OI analysis page), though put options open interest remains intact, but OTM call strikes continues to add positions. Open interest in 6000 call strike have already surpassed 10 millions. Currently, market will trade between 5800 and 6000.
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST.
