NIFTY TODAY AS EXPECTED BOUNCED BACK BUT AGAIN FAILED TO SUSTAIN AT HIGHER LEVELS AND BROKE ITS PREVIOUS LOW OF 5663 AND CLOSED AT 5658.75. 5630 ZONE IS THE STRONG SUPPORT AREA FOR NIFTY AND CONSECUTIVE CLOSES BELOW THE SAID MARK MAY LEAD FURTHER SELL OFF. TOMORROW BEING WEEKLY CLOSE MARKETS ARE EXPECTED TO WITNESS HIGH VOLATILITY. STILL 5700 PE IS HAVING HIGHEST OI OF 86 LAKHS WITH ADDITION OF 2.38 LAKHS. THE DATA IS REALLY SURPRISING AS 5600 PE IS HAVING OI OF 76.39 LAKHS WHICH IS LOWER THAN THE OI OF 5700 PE DESPITE NIFTY CLOSED FAR BELOW 5700 MARK. VIX CLOSED IN RED BUT STILL ABOVE 16. SO THERE IS NO CLEAR CLUE AS TECHNICALLY NIFTY LOOKS WEAK BUT OPTION CHAIN GIVES CONTRADICTORY PICTURE.STILL WE GUESS IF 5630 IS NOT BROKEN NIFTY CAN KISS 5700. FRESH SHORTING MUST BE DONE WITH EXTRA CAUTION.
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