AS EXPECTED MARKETS WITNESSED HIGH VOLATILITY DURING LAST SESSION DUE TO WEEKLY CLOSE. NIFTY OPENED GAP DOWN BUT SHOWED GRADUAL RECOVERY AND KISSED 5972 MARK WHERE IT FOUND RESISTANCE AND PERISHED AND CLOSED BELOW 5900 MARK. NIFTY IS MOVING ERRATICALLY WITHIN THE RANGE OF 5870-5980 FOR THE LAST MANY SESSIONS. NIFTY HAS CLOSED BELOW 5900 MARK BUT STILL 5900 PE IS HAVING HIGHEST OPEN INTEREST OF 67 LAC. OI AT 5900 CE IS 40.72 LAC. 6000 CE IS HAVING OI OF 58 LAC WITH HUGE ADDITION OF 11 LAC IN OI. VIX CLOSED FLAT. SO FROM THE OPEN CHAIN IT CAN BE DERIVED THAT GOING FORWARD MARKETS MAY MOVE IN A RANGE OF 5860-5980. THOUGH THE BIAS IS STILL NEGATIVE.
SUPPORT 5860-5840
RESISTANCE 5940-5980
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