NIFTY TODAY BREACHED AND CLOSED BELOW AN IMPORTANT PSYCHOLOGICAL MARK OF 5600. IT OPENED GAP DOWN AND TRADED WITH NEGATIVE BIAS THROUGH OUT THE DAY. NIFTY DARLING IS DANCING TO THE TUNE OF EVERY SHORT TERM CUES MAKING IT VERY DIFFICULT FOR THE TRADERS TO FORM A CLEAR VIEW. HOWEVER STILL 5600 PE IS HAVING HIGHEST OI OF 70 LACS WHICH IS REALLY SURPRISING. THOUGH THE LIQUIDATION OF 13 LACS IN 5600 PE SUGGEST THAT BULLS WERE FORCED TO COVER SHORTS IN 5600 PE. 5700 CE IS HAVING HIGHET OI OF 70 LACS WITH ADDITION OF 21 LACS IN OI SO 5700 NOW IS GOING TO ACT AS IMMEDIATE RESISTANCE ON UPPER SIDE. NOW THE GAP AROUND 5520 SEEMS TO BE THE MAJOR SUPPORT IN COMING DAYS. THOUGH WE STILL BELIEVE THAT A RIGHT STOCK SELECTION WILL BE THE KEY TO SUCCED IN SUCH UNCERTAIN ENVIRONMENT.
SUPPORT 5565-5520
RESISTANCE 5610-5640
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