AS PER THE OPTION CHAIN 5700 PE IS NOW HAVING HIGHEST OI OF ALMOST 64 LAC WITH HUGE ADDITION OF 18.27 LAC. 5700 CE IS HAVING OI OF49.9 LAC. TOTAL OI AT 5800 CE AND 5800 PE IS 51.84 LAC AND 36.46 LAC RESPECTIVELY. 5900 CE IS HAVING HIGHEST OI OF 64.53 LAC. VIX CLOSED IN RED AND NOW CONSECUTIVELY CLOSING BELOW 20 LEVEL. SO IT SEEMS THAT BULLS ARE HAVING VERY TIGHT GRIP ON 5700 LEVEL WHICH IS NOW GOING TO ACT AS MAJOR SUPPORT FOR NIFTY. 5900 ON THE UPPER SIDE IS THE IMMEDIATE STRONG RESISTANCE. AS MENTIONED IN OUR EARLIER POST 5763 IS THE RESISTANCE WHICH ONCE CROSSED NIFTY CAN KISS 5815-5830 LEVEL. THE BIAS IS STILL BULLISH AND BEING RATIONALE TRADER ONE MUST STAY WITH THE TREND. THE BEST STRATEGY AT THIS JUNCTURE SHOULD BE BUY ON EVERY DECLINE UNLESS AND UNTIL 5692 IS BROKEN.
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