DAY BEFORE YESTERDAY WE UPDATED THAT NIFY RESISTANCE AT 5973 AND IT KISSED 5972 AND TOOK U TURN.... AGAIN YESTERDAY UPDATED THAT RESISTANCE AT 5953 AND TODAY IT KISSED 5952 AND CRASHED.....
NOW WHAT TO EXPECT?????
HAVING FORMED DOJI AFTER A RALLY TODAY NIFTY FORMED A BEARISH CANDLESTICK ON A DAILY CHART AND GAVE CLOSE AT 5914. NIFTY YESTERDAY STRUGGLED TO CROSS 5972 AND TODAY IT STRUGGLED TO CROSS 5953.. :)
NOW WE ARE HAVING HIGHEST OI BUILT UP AT 5700 AND 5800 PE OF AROUND 1 CR EACH. OI AT 5900 PE IS 77 LAKHS WHEREAS 5900 CE IS HAVING OI OF 55 LAKHS. 6000 CE IS HAVING OI OF 68 LAKHS AND 6100 CE IS HAVING OI OF 62 LACS. LIQUIDATION AT 5700 AND 5800 CE SUGGEST PROFIT BOOKING. 5700 PE ADDED HIGHET IN OI WHERES IN CE SPACE 6000 CE ADDED HIGHEST IN OI. SO BULLS ARE HAVING A VERY FIRM GRIP ON 5700 AND 5800 MARK WHEREAS BEARS ARE CONTROLLING 6000. NOW BEARS ARE MAKING EVERY RESISTANCE STIFF AND WANT TO CONTROL 5900. AGAIN VIX ROSE 6% TODAY AND CLOSED AT AROUND 15. SO BE READY FOR EXTREME VOLATILITY.
IMMEDIATE SUPPORT AT 5880-5850 RESISTANCE NOW AT 5953-5972. CLOSE BELOW 5880 MAY GIVE BEARS UPPER HAND WHEREAS CLOSE ABOVE 5990 IS REQUIRED FOR THE BULLS TO CONTROL 6000.
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