Nifty recovered all of its intraday loss and finally closed at 5216.30 with a gain of 23.45 points.
AS INDICATED ON YESTERDAY, NIFTY GOT SUPPORT AT 5170 AND BOUNCED BACK ABOVE 5200. NOW, 5170 WILL ACT AS SUPPORT IN THIS WEEK BELOW WHICH 5150 AND 5100 MAY COME. ON THE UPSIDE, 5233/5245-50 WILL ACT MILD RESISTANCE. IF THESE LEVELS CLEARS IN NEAR FUTURE, 5270 AND 5287-90 WILL BE SUPPLY AREA (SELLING ZONE).
For today, WATCH 5233 AND 5250 LEVEL ON THE UPSIDE ABOVE WHICH NIFTY WILL TRY TO CLEAR OTHER RESISTANCE AROUND 5267 WHEREAS ON THE DOWNSIDE, BELOW 5190, 5170 AND 5150 WILL ACT AS SUPPORT.
From options data (Read OI analysis page), highest options base has been shifted to 5000 & 5100 puts and 5300 & 5400 calls indicating that as of now 5100 may act as support and 5300/5340 as resistance for the series. 5400 will be strong resistance.
AS INDICATED ON YESTERDAY, NIFTY GOT SUPPORT AT 5170 AND BOUNCED BACK ABOVE 5200. NOW, 5170 WILL ACT AS SUPPORT IN THIS WEEK BELOW WHICH 5150 AND 5100 MAY COME. ON THE UPSIDE, 5233/5245-50 WILL ACT MILD RESISTANCE. IF THESE LEVELS CLEARS IN NEAR FUTURE, 5270 AND 5287-90 WILL BE SUPPLY AREA (SELLING ZONE).
For today, WATCH 5233 AND 5250 LEVEL ON THE UPSIDE ABOVE WHICH NIFTY WILL TRY TO CLEAR OTHER RESISTANCE AROUND 5267 WHEREAS ON THE DOWNSIDE, BELOW 5190, 5170 AND 5150 WILL ACT AS SUPPORT.
From options data (Read OI analysis page), highest options base has been shifted to 5000 & 5100 puts and 5300 & 5400 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.
