AGAIN TODAY NIFTY CRASHED AND GAVE CLOSE AT 5694.4. STILL NIFTY HAS NOT BROKEN THE RECENT LOW OF 5663. WE CAN ALSO SEE THE NEGATIVE DIVERGENCE OF RSI TODAY. SO WE BELIEVE IF 5663 IS NOT BROKEN AND NIFTY HOLDS THE SAID LEVEL FOR 2 TO 3 DAYS ON CLOSING BASIS WE MAY WITNESS TECHNICAL BOUNCE BACK FROM HERE.
STILL WE HAVE HIGHEST OI AT 5700 PE OF 88 LK WITH ADDITION OF 3.3 LK.5800 PE IS HAVING OI OF 46.76 LK WITH LIQUIDATION OF 20 LK AND OI AT 5900 PE IS 29 LK WITH LIQUIDATION OF 4.85 LK. 5400, 5500 AND 5600 PE IS HAVING OI OF 5LK, 59.7 LK AND 72.2 LK WITH ADDITION OF 2LK, 1.75 LK AND 7 LK RESPECTIVELY.
ON THE OTHER SIDE 6000 CE IS HAVING HIGHEST OI OF 1 CR WITH ADDITION OF 2.3 LK. OI AT 5900 CE AND 5800 CE IS 83.7 LK AND 74.4 LK RESPECTIVELY. 5700 CE ADDED 20 LK IN OI AND 5800 CE ADDED 13 LK.
VIX WAS DOWN BY 0.3% AND STILL CLOSED ABOVE 16.
SO THERE WILL BE TOUGH FIGHT BETWEEN BEARS AND BULLS FOR THE 5700 LEVEL AND OPTION CHAIN ALSO GIVES HINT THAT NIFTY MAY CONSOLIDATE NOW.
SUPPORT 5663-5630
RESISTANCE 5723-5745...
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