Nifty closed flat at 5192.85 with a loss of 4.40 points.
NIFTY BROKEN ITS MAJOR SUPPORT(5200), NOW 5170-5150 WILL BE PROBABLE SUPPORT AREA. HOWEVER SELLING PRESSURE MAY PUSH NIFTY TO HIT EVEN 5100 IN DAYS TO COME. ON THE UPSIDE, 5233/5245-50 WILL ACT MILD RESISTANCE IF AND ONLY IF NIFTY ABLE TO TRADE ABOVE 5200, AND IF THESE LEVELS CLEARS IN NEAR FUTURE, 5270 AND 5287-90 WILL BE SUPPLY AREA (SELLING ZONE).
For today, VIEWS ARE SAME AS YESTERDAY. WATCH 5200 LEVEL ON THE UPSIDE ABOVE WHICH NIFTY WILL TRY TO CLEAR 5230 AND 5250, 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 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.
NIFTY BROKEN ITS MAJOR SUPPORT(5200), NOW 5170-5150 WILL BE PROBABLE SUPPORT AREA. HOWEVER SELLING PRESSURE MAY PUSH NIFTY TO HIT EVEN 5100 IN DAYS TO COME. ON THE UPSIDE, 5233/5245-50 WILL ACT MILD RESISTANCE IF AND ONLY IF NIFTY ABLE TO TRADE ABOVE 5200, AND IF THESE LEVELS CLEARS IN NEAR FUTURE, 5270 AND 5287-90 WILL BE SUPPLY AREA (SELLING ZONE).
For today, VIEWS ARE SAME AS YESTERDAY. WATCH 5200 LEVEL ON THE UPSIDE ABOVE WHICH NIFTY WILL TRY TO CLEAR 5230 AND 5250, 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 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.
