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 5847.70 with a huge loss of 68.70 points (-1.16%) on intraday basis.
CONSOLIDATION BETWEEN 5823-5965 WAS SEEN FOR THE LAST THREE WEEKS. NIFTY BREACHED 5850 AND CLOSED BELOW 5850 WHICH WAS AN IMPORTANT SUPPORT. 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, 5907 AND 5965 WILL BE RESISTANCE. ABOVE WHICH 6000 WILL BE POSSIBLE IF THERE IS ANY GOOD NEWS FROM GLOBAL SIDE ON 'FISCAL CLIFF'. VOLATILITY WILL BE PART OF MARKET IN THIS WEEK DUE TO EXPIRY.
For today and this week, WATCH 5865/5900 LEVEL ON THE UPSIDE. ABOVE 5900, THERE IS EVERY CHANCE FOR NIFTY TO HIT 6000 WHEREAS ON THE DOWNSIDE, BELOW 5823, 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 5847.70 with a huge loss of 68.70 points (-1.16%) on intraday basis.
CONSOLIDATION BETWEEN 5823-5965 WAS SEEN FOR THE LAST THREE WEEKS. NIFTY BREACHED 5850 AND CLOSED BELOW 5850 WHICH WAS AN IMPORTANT SUPPORT. 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, 5907 AND 5965 WILL BE RESISTANCE. ABOVE WHICH 6000 WILL BE POSSIBLE IF THERE IS ANY GOOD NEWS FROM GLOBAL SIDE ON 'FISCAL CLIFF'. VOLATILITY WILL BE PART OF MARKET IN THIS WEEK DUE TO EXPIRY.
For today and this week, WATCH 5865/5900 LEVEL ON THE UPSIDE. ABOVE 5900, THERE IS EVERY CHANCE FOR NIFTY TO HIT 6000 WHEREAS ON THE DOWNSIDE, BELOW 5823, 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.
