NIFTY FORMED A DOJI AFTER A SHARP SELL OFF AND WE INDICATED YESTERDAY AS ALMOST EQUAL OI WAS BUILT UP AT 6000 CE AND 6000 PE. NIFTY OPENED IN A GREEN AND TRADED IN A RANGE OF 5970-6030, THOUGH THE MOVES WERE HIGHLY VOLATILE. EVEN TODAY 6000 CE AND 6000 PE IS HAVING ALMOST EQUAL OI. TOTAL OI AT 6100 CE AND 6200 CE IS 59.53 LAC AND 77.13 LAC RESPECTIVELY. 5900 PE IS HAVING OI OF 78.23 LAC WITH ADDITION OF 12.3 LAC IN OI. TOTAL OI AT 5700 AND 5800 PE IS 85.26 LAC AND 91.2 LAC RESPECTIVELY. VIX IS STILL ABOVE 17. SO OPTION CHAIN SUGGEST THAT 5800 HAS NOW EMERGED AS A VERY STRONG SUPPORT AND ON THE UPPER SIDE 6200 IS THE VERY STIFF RESISTANCE. TREND IS STILL UP AND MKTS ARE EXPECTED TO TRADE WITH POSITIVE BIAS, THOUGH VOLATILE MOVES MAY BE THERE IN MKTS..
SUPPORT 5970-5930
RESISTANCE 6027-6045
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