NIFTY OPENED GAP DOWN BUT RECOVERED QUICKLY FROM 5500 MARK AND MADE HIGH OF 5593 AND FINALLY MANAGED TO CLOSE NEAR 5570. NIFTY IS FINDING SUPPORT NEAR 5500 BUT IT IS NOT ABLE TO SUSTAIN AT HIGHER LEVELS. NOW WE HAVE HIGHEST OI AT 5500 PE OF 84 LAC WITH ADDITION OF 18 LAC IN OI. 5400 PE IS HAVING OI OF 77 LAC WITH ADDITION OF 11.5 LAC. OI AT 5600 PE AND 5600 CE IS 60 LAC AND 65 LAC RESPECTIVELY. LIQUIDATION WITNESSED AT 5600 CE AND OI WAS BUILT AT 5600 PE. OI AT 5700 CE AND 5800 CE IS 86 LAC AND 78 LAC RESPECTIVELY. VIX STILL IS STILL ABOVE 16 AND CLOSED 1% UP TODAY. SO 5500 IS NOW EMERGING AS STRONG SUPPORT FOR NIFTY WHEREAS 5700 REMAINS THE KEY RESISTANCE ZONE. ALMOST EQUAL OI 5600 STRIKE SUGGEST THAT THERE WILL BE VERY TOUGH FIGHT FOR 5600 MARK BETWEEN BULLS AND BEARS. THE OPTION CHAIN SUGGEST THAT THE IMMEDIATE RANGE OF NIFTY IS 5500-5700. STILL WE HAVE AN UNFILLED GAP AT 5644.
MARKETS EXPECTED TO BE HIGHLY STOCK SPECIFIC.
No comments:
Post a Comment