YESTERDAY WE UPDATED THAT TREND SEEMS TO BE BUY ON DECLINE AND ASKED NOT TO SHORT NIFTY. MANY WOULD HAVE BEEN SURPRISED AS THE FOREIGN MARKETS HAD TUMBLED BUT NIFTY MOVED AS PER THE EXPECTATION AND FINALLY GAVE A VERY FIRM CLOSE ABOVE 5700 MARK. NOW 5700 PE IS HAVING OI OF 74 LAC WITH ADDITION OF 12.6 WHEREAS HUGE LIQUIDATION WITNESSED AT 5700 CE OF 39 LAC REDUCING THE TOTAL OI AT 5700 CE TO 44.54 LAC. STILL 5600 PE IS HAVING HIGHEST OI OF 110 LAC WITH ADDITION OF 8.64 LAC. 5800 PE ADDED 26.57 LAC IN OI TAKING THE TOTAL OI AT 5800 PE TO 37.37 LAC. VIX FELL SHARPLY BY 6.6% AND CLOSED BELOW 16 MARK AT 15.36.
SO IN THE LIGHT OF ABOVE NIFTY IS EXPECTED TO MOVE HIGHER AND 5600 MARK AS NOW EMERGED AS VERY STRONG SUPPORT FOR NIFTY. NO SHORT IS ADVISABLE IN THE MARKET.
SUPPORT 5736-5688
RESISTANCE 5795-5830
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