AS MENTIONED IN OUR PREVIOUS POST NIFTY WITNESSED BOUNCE BACK AND FOUND RESISTANCE AROUND 5980 AND KISSED THE NECKLINE AREA OF 5910 AGAIN TODAY. HOWEVER TODAY NIFTY NOT ONLY LOST ITS EARLIER GAIN BUT ALSO SLIPPED BELOW IT YESTERDAY'S LOW AND CLOSED BELOW 5935 MARK SUGGESTING A CLEAR NEGATIVE BIAS. HOWEVER AS PER OPTION CHAIN 5900 PE IS STILL HAVING HIGHEST OPEN INTEREST IMPLYING THAT 5900 IS STILL A STRONG SUPPORT AREA. 6000 CE IS HAVING OPEN INTEREST OF 46.78 LAC WITH ADDITION OF 4.22 LAC IN OI WHEREAS OI AT 6000 PE IS HAVING OI OF 38.10 LAC WITH LIQUIDATION OF 0.77 LAC. SO BULLS ARE LOSING GRIP ON 6000 MARK. OI AT 6100 CE AND 6200 CE IS 54 LAC EACH. SO 6100 REMAINS STIFF RESISTANCE. VIX IS STILL ABOVE 17 MARK.
SO BIAS IS NEGATIVE NOW AND BREACH OF 5900 MARK MAY INCREASE THE SELLING PRESSURE.
SUPPORT AT 5910-5860
RESISTANCE 5940-5980
No comments:
Post a Comment