NIFTY KISSED VERY CRUCIAL SUPPORT AROUND 5740 AND JUST MANAGED TO CLOSE ABOVE 5760 MARK. AFTER CONTINUOUS DECLINE IT FORMED A DOJI CANDLESTICK ON A DAILY CHART. AS PER OPTION CHAIN 5700 PE IS HAVING HIGHEST OI OF 73.12 LAC. TOTAL OI AT 5800 CE AND 5800 PE IS 53 LAC AND 63.6 LAC. LIQUIDATION WAS SEEN IN 5900 PE. TOTAL OI AT 5900 CE IS 57 LAC AND AT 6000 CE IS 75.5 LAC. VIX CLOSED AT 18.85 MARK AFTER KISSING ALMOST 20 LEVEL. RUPEE STRENGTHENED AFTER GOVERNMENT INTERVENTION AND INDIA'S RATING WAS UPGRADED TO STABLE FROM NEGATIVE. CONSIDERING ALL THESE FACTORS IT IS EVIDENT THAT MARKETS MAY CONSOLIDATE OR MOVE NORTHWARDS THOUGH THE OVERALL TREND IS STILL NEGATIVE WITH NO SIGN OF REVERSAL. GOING FORWARD TILL RBI MEET WE BELIEVE MARKETS MAY CONSOLIDATE IN RANGE OF 5750 TO 5900 WITH HIGHLY STOCK SPECIFIC MOVES. BUT AS VIX IS TRADING CLOSE TO 20 TRADERS ARE ADVISED TO EXERCISE EXTRA CAUTION AND AVOID OVER LEVERAGING.
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