Wish you all blog visitors, my well wishers and friends a very
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 6016.15 with a gain of 6.65 points (+0.11%) on intraday basis whereas a huge gain of 107.80 (+1.82%) on weekly basis.
CONSOLIDATION BETWEEN 5823-5965 WHICH WAS SEEN FOR THE LAST FOUR WEEKS WAS TAKEN OUT LAST WEEK. NOW 5960-5965 WILL BE ACT AS STRONG SUPPORT.
For today and this week, WATCH 5965 LEVEL ON THE DOWNSIDE. BELOW 5965, UPTREND COULD START TO FIZZLE OUT WHEREAS THERE IS EVERY CHANCE FOR NIFTY TO HIT 6100 IF THE SMALL RESISTANCE OF 6025 TAKEN.
IN ANY CASE, IF 5960 BREAKS, NEXT STRONG SUPPORT WILL BE AROUND 5900 AND THEREAFTER 5823.
From options data (Read OI analysis page), highest build-up positions was seen at 5800 PUT and 6200 CALL. This build-up indicates this series will end up between 5800 and 6200. However, stock specific movement may be seen in this series. A rate-cut from RBI moneytary policy may take Nifty towards 6200.
Nifty closed on Friday at 6016.15 with a gain of 6.65 points (+0.11%) on intraday basis whereas a huge gain of 107.80 (+1.82%) on weekly basis.
CONSOLIDATION BETWEEN 5823-5965 WHICH WAS SEEN FOR THE LAST FOUR WEEKS WAS TAKEN OUT LAST WEEK. NOW 5960-5965 WILL BE ACT AS STRONG SUPPORT.
For today and this week, WATCH 5965 LEVEL ON THE DOWNSIDE. BELOW 5965, UPTREND COULD START TO FIZZLE OUT WHEREAS THERE IS EVERY CHANCE FOR NIFTY TO HIT 6100 IF THE SMALL RESISTANCE OF 6025 TAKEN.
IN ANY CASE, IF 5960 BREAKS, NEXT STRONG SUPPORT WILL BE AROUND 5900 AND THEREAFTER 5823.
From options data (Read OI analysis page), highest build-up positions was seen at 5800 PUT and 6200 CALL. This build-up indicates this series will end up between 5800 and 6200. However, stock specific movement may be seen in this series. A rate-cut from RBI moneytary policy may take Nifty towards 6200.
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST.
