NIFTY UPDATES 29413

NIFTY TODAY MANAGED TO GIVE CLOSE ABOVE 5900 MARK. FOR THE LAST 3 SESSIONS NIFTY IS TRADING IN A RANGE OF 5850-5925. NOW 5900 PE IS HAVING OI OF 38.7 LAC AND 5900 CE IS HAVING OI OF 35.2 LAC. 5800 PE IS HAVING OI OF MORE THAN 50 LAC WHEREAS OI AT 6000 CE IS 41.78 LAC. VIX ROSE MORE THAN 3% AND FINALLY MANAGED TO CLOSE AT 14.33. SO NOT MUCH CAN BE DERIVED FROM THE OPTIONS CHAIN AS OF NOW. HOWEVER A TOUGH FIGHT IS EXPECTED BETWEEN BEARS AND BULLS FOR 5900 MARK. HOWEVER WE EXPECT THE BROADER MARKETS TO BE VOLATILE WITH HIGHLY STOCK SPECIFIC MOVES DUE TO RESULTS SEASON. THE BIAS IS STILL BULLISH. 

SUPPORT 5860-5830

RESISTANCE 5930-5973

Nifty Updates 25413

Nifty today gave a very firm close above 5900 mark. Now total OI at 5900 PE is 29.2 lac with addition of 21.76 lac today only. 5800 PE too added  25.5 lac in OI. Total OI at 5900 CE is 41.88 lac. VIX too fell very sharply today and closed at 14.2. So there is no hint for the trend reversal and markets are expected to hold their positive bias. 

NIFTY HURDLE  5970-5992

STRONG SUPPORT AT 5880-5860

NIFTY UPDATES 24413

NIFTY HAS FORMED HANGING MAN CANDLESTICK PATTERN ON A DAILY CHART. HOWEVER VIX FELL VERY SHARPLY AND CLOSED BELOW 16 MARK AND PCR HAS INCREASED. 5900 CE IS HAVING HIGHEST OI OF 80.45 LAC. 5800 CE WITNESSED LIQUIDATION OF 8.82 LAC AND TOTAL OI AT 5800 PE IS 61.65 LAC WITH ADDITION OF 5.10 LAC. OI AT 5900 PE IS 15.37 LAC. SO AS PER THE OPTION CHAIN IMMEDIATE RANGE OF NIFTY SEEMS TO BE 5800-5900. HOWEVER IN VIEW OF THE SHARP FELL IN VIX AND SUDDEN SPURT IN PCR INDICATES EXTREME BULLISHNESS. THERE IS A PROBABILITY THAT NIFTY MIGHT CLOSE ABOVE 5900. 

NIFTY UPDATES: 22413

FROM THE LAST TWO POSTS WE ASKED NOT TO SHORT NIFTY AND IT MOVED AS PER THE EXPECTATIONS. NIFTY TODAY MANAGED TO CLOSE ABOVE ITS DOWNTREND RESISTANCE LINE. HUGE OI BUILT UP TODAY AT 5800 PE OF ALMOST 25 LAC SUGGESTING BULLS ARE TRYING VERY HARD TO RAISE THE SUPPORT LEVELS. STILL 5600 PE IS HAVING OI OF MORE THAN 100 LAC WITH LIQUIDATION OF 6.13 LAC SUGGESTING PROFIT BOOKING AT HIGHER LEVELS. 5900 CE ADDED 10.28 LAC IN OI TAKING TOTAL OI AT 81.57 LAC AT 5900 CE .VIX ROSE 5.6% AND CLOSED AT 16.22. SO NIFTY SEEMS TO BE IN A UPTREND, HOWEVER THIS BEING THE EXPIRY WEEK MARKETS MAY WITNESS HUGE VOLATILITY . WE SUGGEST TO KEEP BOOKING PROFITS AT HIGHER LEVELS BY TRAILING SL. STILL NO SHORT IS ADVISABLE IN THE MARKETS.

RESISTANCE AT 5873

SUPPORT 5815

NIFTY UPDATES 18413

YESTERDAY WE UPDATED THAT TREND SEEMS TO BE BUY ON DECLINE AND ASKED NOT TO SHORT NIFTY. MANY WOULD HAVE BEEN SURPRISED AS THE FOREIGN MARKETS HAD TUMBLED BUT NIFTY MOVED AS PER THE EXPECTATION AND FINALLY GAVE A VERY FIRM CLOSE ABOVE 5700 MARK. NOW 5700 PE IS HAVING OI OF 74 LAC WITH ADDITION OF 12.6 WHEREAS HUGE LIQUIDATION WITNESSED AT 5700 CE OF 39 LAC REDUCING THE TOTAL OI AT 5700 CE TO 44.54 LAC. STILL 5600 PE IS HAVING HIGHEST OI OF 110 LAC WITH ADDITION OF 8.64 LAC. 5800 PE ADDED 26.57 LAC IN OI TAKING THE TOTAL OI AT 5800 PE TO 37.37 LAC. VIX FELL SHARPLY BY 6.6% AND CLOSED BELOW 16 MARK AT 15.36.

SO IN THE LIGHT OF ABOVE NIFTY IS EXPECTED TO MOVE HIGHER AND 5600 MARK AS NOW EMERGED AS VERY STRONG SUPPORT FOR NIFTY. NO SHORT IS ADVISABLE IN THE MARKET. 

SUPPORT 5736-5688

RESISTANCE 5795-5830

NIFTY UPDATES 16413

AS EXPECTED NIFTY FILLED THE GAP AT 5644, ALMOST KISSED 5700 MARK AND FINALLY MANAGED TO CLOSE AT 5689. HUGE OI BUILT AT 5600 AND 5700 PE OF 30 LAC AND 25 LAC RESPECTIVELY TAKING THE TOTAL OI AT 5600 PE TO 89.5 LAC AND AT 5700 PE TO 48.5 LAC. 5500 PE IS HAVING HIGHEST OI OF 89.8 LAC. ON THE OTHER SIDE 5700 CE IS STILL HAVING HIGHEST OI OF 84.2 LAC. HUGE LIQUIDATION WAS WITNESSED AT 5500 CE OF 15.6 LAC. TOTAL OI AT 5800 CE AND 5900 CE IS 71.7 LAC AND 72.2 LAC. VIX WAS DOWN BY 2.2% BUT STILL ABOVE 16. 

SO NOW NIFTY SEEMS TO BE MODERATELY BULLISH AS WE EXPECTED 5682 AS MAJOR RESISTANCE BUT IT HAS NOW BEEN BREACHED ON CLOSING BASIS. OPTION CHAIN CLEARLY INDICATES THAT BULLS HAVE NOW FIRM GRIP ON 5500 AND 5600 MARK. 

SUPPORT 5644-5615

RESISTANCE 5745-5780

NIFTY UPDATES 15413

NIFTY OPENED GAP DOWN BUT RECOVERED QUICKLY FROM 5500 MARK AND MADE HIGH OF 5593 AND FINALLY MANAGED TO CLOSE NEAR 5570. NIFTY IS FINDING SUPPORT NEAR 5500 BUT IT IS NOT ABLE TO SUSTAIN AT HIGHER LEVELS. NOW WE HAVE HIGHEST OI AT 5500 PE OF 84 LAC WITH ADDITION OF 18 LAC IN OI. 5400 PE IS HAVING OI OF 77 LAC WITH ADDITION OF 11.5 LAC. OI AT 5600 PE AND 5600 CE IS 60 LAC AND 65 LAC RESPECTIVELY. LIQUIDATION WITNESSED AT 5600 CE AND OI WAS BUILT AT 5600 PE. OI AT 5700 CE AND 5800 CE IS 86 LAC AND 78 LAC RESPECTIVELY. VIX STILL IS STILL ABOVE 16 AND CLOSED 1% UP TODAY. SO 5500 IS NOW EMERGING AS STRONG SUPPORT FOR NIFTY WHEREAS 5700 REMAINS THE KEY RESISTANCE ZONE. ALMOST EQUAL OI 5600 STRIKE SUGGEST THAT THERE WILL BE VERY TOUGH FIGHT FOR 5600 MARK BETWEEN BULLS AND BEARS. THE OPTION CHAIN SUGGEST THAT THE IMMEDIATE RANGE OF NIFTY IS 5500-5700. STILL WE HAVE AN UNFILLED GAP AT 5644. 

MARKETS EXPECTED TO BE HIGHLY STOCK SPECIFIC.