NIFTY OPENED WITH A FIRM NOTE ABOVE 5880 AND FIRMLY HELD IT THROUGH OUT THE DAY. THE GAP AROUND 5930 GOT FILLED TODAY VERY EASILY AND NIFTY FORMED A BULLISH ENGULFING PATTERN ON A WEEKLY CHART.
NOW 5700 PE AND 5800 PE IS HAVING HIGHEST OI OF 94.5 LAKHS AND 94 LAKHS RESPECTIVELY WITH HIGHEST ADDITION OF 26 LAKHS AT 5900 PE WHICH TOOK THE TOLL AT 64 LAKHS OF OI AT 5900. 6000 PE ADDED 13 LAKHS IN OI. ON THE OTHER HAND HIGHEST OI IS BUILT UP AT 6000 CE AND 6100 CE OF 57 LAKHS AND 56 LAKHS RESPECTIVELY WITH LIQUIDATION OF 9.85 LACS IN 6000 CE. 5800 CE WITNESSED HIGHEST LIQUIDATION OF 10 LAKHS IN OI AND 5700 CE LIQUIDATED 6.5 LACS. SO PROFIT BOOKING SEEN AT 5700 AND 5800 CE AND BEARS WERE FORCED TO COVER THE SHORT AT 6000 CE.
NOW BULLS ARE HAVING A VERY FIRM GRIP ON 5700 AND 5800 POINT AND TRYING TO HOLD 5900 VERY TIGHTLY. NIFTY TREND IS NOW BULLISH UNLESS AND UNTIL 5880 IS IN TACT.ABOVE 5940 NIFTY IS A CLEAR BUY. RESISTANCE FOR NIFTY SEEMS TO BE AT 5972 -6017. NO SHORT IS ADVISABLE IN MKTS. ONE SHOULD EITHER STAY WITH THE TREND OR REMAIN NEUTRAL.
NOW 5700 PE AND 5800 PE IS HAVING HIGHEST OI OF 94.5 LAKHS AND 94 LAKHS RESPECTIVELY WITH HIGHEST ADDITION OF 26 LAKHS AT 5900 PE WHICH TOOK THE TOLL AT 64 LAKHS OF OI AT 5900. 6000 PE ADDED 13 LAKHS IN OI. ON THE OTHER HAND HIGHEST OI IS BUILT UP AT 6000 CE AND 6100 CE OF 57 LAKHS AND 56 LAKHS RESPECTIVELY WITH LIQUIDATION OF 9.85 LACS IN 6000 CE. 5800 CE WITNESSED HIGHEST LIQUIDATION OF 10 LAKHS IN OI AND 5700 CE LIQUIDATED 6.5 LACS. SO PROFIT BOOKING SEEN AT 5700 AND 5800 CE AND BEARS WERE FORCED TO COVER THE SHORT AT 6000 CE.
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