NIFTY IS NOW CLOSING BELOW ITS UPTREND LINE FOR THE LAST COUPLE OF SESSIONS AND STILL THE MARKETS ARE SHOWING NO SIGN OF RECOVERY. AS PER OPTION CHAIN HUGE OI WAS BUILT UP TODAY AT 5400 PE AND TOTAL OI REACHED 76.6 LAC. 5500 CE AND 5500 PE IS HAVING OI OF 22.61 LAC AND 52.25 LAC. 5600 CE IS HAVING OI OF 40.16 LAC. VIX CLOSED IN RED TODAY AT 22 LEVEL. SO THE IMMEDIATE RANGE OF NIFTY SEEMS TO BE 5400 TO 5600. SINCE THE TREND IS STILL DOWN INVESTORS ARE REQUESTED TO STAY SIDELINE UNLESS MARKETS CONSOLIDATE RATHER THAN JUMPING TO CATCH THE FALLING KNIVES.
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