AROUND 5495 WE UPDATED THAT NIFTY BOUNCE BACK EXPECTED AND TODAY IT CLOSED AT 5594.. ALMOST 100 POINTS UP.... :)... NIFTY TODAY HAS GIVEN A MODERATELY STRONG CLOSE. WE WITNESSED LIQUIDATIONS 5700 CE AND 5800 CE OF 8 LAC AND 10 LAC RESPECTIVELY. HUGE OI BUILT UP TODAY AT 5400 AND 5500 PE OF 21 LAC AND 20 LAC RESPECTIVELY. TOTAL OI AT 5600 PE IS 64 LAC WITH ADDITION OF 5 LAC WHEREAS TOTAL OI AT 5600 CE IS 58.66 LAC WITH LIQUIDATION OF 1.42 LAC. VIX ROSE ALMOST 3% AND FINALLY CLOSED AT ALMOST 17 MARK. SO BULLS ARE TRYING TO RAISE THEIR BASE HOWEVER STILL THERE REMAINS A VERY TOUGH FIGHT FOR 5600 MARK. NIFTY IS NOW ENTERING A VERY STIFF RESISTANCE ZONES ABOVE 5600 WE MAY WITNESS HIGHER VOLATILITY IN THE INDEX. THE MAXIMUM UPSIDE FOR NIFTY SEEMS TO BE 5682.
SUPPORT 5537-5487
RESISTANCE 5610-5644-5682
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