Nifty made a high 5170.40 in its late afternoon rally and ended at 5165 with a modest gain of 44.45 points. NIFTY ABLE TO CROSS ITS FIRST RESISTANCE OF 5150 AND CLOSED ABOVE THAT. NOW IT NEEDS TO CLOSE ABOVE 5182/5200 ON WEEKLY BASIS TO CONTINUE ITS UPMOVE.
For today, WATCH 5182 LEVEL CAREFULLY. IF NIFTY ABLE TO TRADE ABOVE THIS LEVEL, WE MAY EXPECT NIFTY TO TOUCH 5210/5227. ON THE DOWNSIDE, 5150 AND 5133 WILL ACT AS SUPPORT. BEYOND THIS, 5100 WILL BE SUPPORT.
From options data (Read OI analysis page),,highest options base has been shifted to 5000 & 4800 put and 5300 & 5200 calls. As of now, for June series, 4970/5000 will act as strong support and 5280/5300 (beyond 5182/5220) will act as strong resistance.
For today, WATCH 5182 LEVEL CAREFULLY. IF NIFTY ABLE TO TRADE ABOVE THIS LEVEL, WE MAY EXPECT NIFTY TO TOUCH 5210/5227. ON THE DOWNSIDE, 5150 AND 5133 WILL ACT AS SUPPORT. BEYOND THIS, 5100 WILL BE SUPPORT.
From options data (Read OI analysis page),,highest options base has been shifted to 5000 & 4800 put and 5300 & 5200 calls. As of now, for June series, 4970/5000 will act as strong support and 5280/5300 (beyond 5182/5220) will act as strong resistance.
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST.
"REAL-TIME NIFTY CHART" - BUY WHEN 20-MIN. EMA(GREEN LINE) CROSSES 50-MIN. EMA(RED LINE) DOWN TO UPSIDE AND VICE-VERSA. IN ADDITION, GREEN DOT INDICATES BULLISH SIGNAL AND RED DOT INDICATES BEARISH SIGNAL ON INTRA-DAY BASIS. NO NEED TO REFRESH THE PAGE REPEATEDLY. THE CHART WILL AUTO REFRESH IN EVERY 10 SECONDS. THE PAGE WILL AUTO REFRESH IN EVERY 2 MINUTES TO UPDATE ALL OTHER DATA. - 'WISH U ALL GOOD LUCK' - JAY.
