Weak guidance from INFOSYS and global cues made Nifty to close at 5227.25 with a loss of 8.00 points on Friday (daily basis), 89.70 (1.69%) down on weekly basis.
NOW, 5200-5210 WILL ACT AS SUPPORT. IF 5200 GOT BROKEN WITH VOLUME, 5170-5150 WILL BE PROBABLE STRONG SUPPORT AREA. ON THE UPSIDE, 5233/5245-50 WILL ACT MILD RESISTANCE AND IF THESE LEVELS CLEARS, 5270 AND 5287-90 WILL BE SUPPLY AREA.
For today, WATCH 5250/5270 LEVEL ON THE UPSIDE THAT MAY ACT AS RESISTANCE, WHEREAS ON THE DOWNSIDE, BELOW 5200, 5170 WILL NOW ACT AS SUPPORT.
From options data (Read OI analysis page), highest options base has been shifted to 5000 & 5100 puts and 5400 & 5300 calls indicating that as of now 5100 may act as support and 5300/5340 as resistance for the series. 5400 will be strong resistance.
NOW, 5200-5210 WILL ACT AS SUPPORT. IF 5200 GOT BROKEN WITH VOLUME, 5170-5150 WILL BE PROBABLE STRONG SUPPORT AREA. ON THE UPSIDE, 5233/5245-50 WILL ACT MILD RESISTANCE AND IF THESE LEVELS CLEARS, 5270 AND 5287-90 WILL BE SUPPLY AREA.
For today, WATCH 5250/5270 LEVEL ON THE UPSIDE THAT MAY ACT AS RESISTANCE, WHEREAS ON THE DOWNSIDE, BELOW 5200, 5170 WILL NOW ACT AS SUPPORT.
From options data (Read OI analysis page), highest options base has been shifted to 5000 & 5100 puts and 5400 & 5300 calls indicating that as of now 5100 may act as support and 5300/5340 as resistance for the series. 5400 will be strong resistance.
DISCLAIMER: BEING A TRADER, I MAY HAVE SOME VESTED INTEREST.
