Nifty breached 4880 on intraday basis, made a low of 4874.50 on Monday and finally closed at 4907.80 (lost 21.10 points). Nifty is making lower high and lower low for the last few days which is not a good sign. If Nifty breached 4880 decisively with good volume, we may see 4700 in this expiry.
For today, WATCH 4900-4880 CAREFULLY. IF NIFTY ABLE TO HOLD THIS, IT MAY MOVE TOWARDS 4940/4970 ON THE UP SIDE WHEREAS BREAKING 4880, NIFTY MAY HIT 4870/4850 ON THE DOWNSIDE.
For today, WATCH 4900-4880 CAREFULLY. IF NIFTY ABLE TO HOLD THIS, IT MAY MOVE TOWARDS 4940/4970 ON THE UP SIDE WHEREAS BREAKING 4880, NIFTY MAY HIT 4870/4850 ON THE DOWNSIDE.
From options data,,highest options base has been shifted to 4800 put and 5200 calls. However, as of now 4880/4900 may act as support and 5200 (AFTER CROSSING 5100-5110) will act as STRONG resistance.
THOSE WHO INTERESTED, MAY ACCUMULATE BHEL, TCS, SBI, JPASSOCIATES, BHARATI AIRTEL, L&T ETC. FOR LONG TERM IN CASH SEGMENT.
THOSE WHO INTERESTED, MAY ACCUMULATE BHEL, TCS, SBI, JPASSOCIATES, BHARATI AIRTEL, L&T ETC. FOR LONG TERM IN CASH SEGMENT.
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST.
