Nifty made a high of 4898.95 (just one point to 4900 indicated yesterday) and gave almost all of its gains on the day itself and finally, it closed at 4863.30, with a marginal gain of 15.15 points.
For today, WATCH 4870 CAREFULLY. IF ABLE TO CROSS WITH VOLUME, NIFTY MAY MOVE TOWARDS 4884/4900 AND EVEN 4933 WHEREAS ON THE DOWNSIDE, BELOW 4850, SUDDEN SELL OFF MAY BRING NIFTY TOWARDS 4830/4814/4800/4770. TREND IS DOWN STILL NIFTY TRADES BELOW 4950 AND 4970.
For today, WATCH 4870 CAREFULLY. IF ABLE TO CROSS WITH VOLUME, NIFTY MAY MOVE TOWARDS 4884/4900 AND EVEN 4933 WHEREAS ON THE DOWNSIDE, BELOW 4850, SUDDEN SELL OFF MAY BRING NIFTY TOWARDS 4830/4814/4800/4770. TREND IS DOWN STILL NIFTY TRADES BELOW 4950 AND 4970.
From options data,,highest options base has been shifted to 4500 & 4800 put and 5000 & 5100 calls. As of now, for June series, 4760/4800 may act as support and 4970/5000 may act as 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.
