NIFTY UPDATES 24613

NIFTY HAD A GOOD WEEKLY SUPPORT IN 5770 ZONE WHICH HAS BEEN BROKEN AND THE NEXT MAJOR WEEKLY SUPPORT NOW IS IN THE ZONE OF 5630 LEVELS. NIFTY HAS CLOSED AT 5990 WITH VIX ABOVE 21 LEVEL. AS NOW THE JUNE EXPIRY IS ABOUT TO HAPPEN MARKETS MAY WITNESS EXTREME VOLATILE MOVES AND TRADES MUST AVOID HIGH BETA STOCKS TO PREVENT THEMSELVES FROM ANY UNMANAGEABLE LOSS. LOOKING AT THE OPTION CHAIN EXPIRY RANGE MAY BE 5550-5650 BUT AS MENTIONED EARLIER VIX IS THE MAJOR CONCERN NOW. 

NIFTY DARLING 19613

NIFTY IS FINDING SUPPORT AROUND 5770 LEVELS AND WITNESSING BOUNCE BACK. TODAY IT KISSED 5777 LEVEL AND MOVED UP. AS PER OPTION CHAIN HUGE OPTION WAS BUILT UP AT 5600 PE AND 5700 PE OF 12.68 LAC AND 13 LAC. TOTAL OI AT 5700 PE IS 87.33 LAC. TOTAL OI AT 5800 PE IS 75.18 LAC AND 5800 CE IS 56.94. TOTAL OI AT 5900 CE IS 75.92 LAC. SO 5700 IS THE WALL OF SUPPORT FOR NIFTY WHEREAS 5900 REMAINS THE IMMEDIATE RESISTANCE. LOOKING AT THE CHART AND OPTION DATA WE EXPECT THAT CHANCES OF NIFTY KISSING 5900 LEVEL ARE VERY HIGH. HOWEVER THE ONLY CONCERN IS VIX WHICH HAS RISEN TODAY AND CLOSED AT 18.46 LEVEL. 

NIFTY UPDATES 18613

NIFTY CLOSED BELOW THE SUPPORT LEVEL IN THE ZONE 5815. 5700 PE IS STILL HAVING HIGHEST OI OF 74.23 LAC. OI AT 5800 LEVEL IS ALMOST EQUAL WHEREAS TOTAL OI AT 5900 MARK IS 74.64 LAC WITH HUGE ADDITION OF 15.14 LAC IN OI. RUPEE CLOSED AT THE LOWEST LEVEL. CONSIDERING THESE FACTORS IT SEEMS MARKETS STILL IN FIRM GRIP OF BEARS AND EVERY BOUNCE BACK IS NOW BEING USED TO INITIATE SHORTS. 

SUPPORT AT 5770-5740

RESISTANCE 5920-5970.

NIFTY UPDATES 17613

NIFTY FORMED A PIN BAR PATTERN ON A DAILY CHART TODAY. IT KISSED THE RESISTANCE ZONE OF 5855 AND MANAGED TO CLOSE ABOVE 5850. 5700 PE IS HAVING HIGHEST OI OF 82.74 LAC. TOTAL OI AT 5800 CE AND 5800 PE IS 52..55 LAC AND 71.59 LAC RESPECTIVELY. TOTAL OI AT 5900 CE IS 64.44 LAC. 6000 CE IS HAVING HIGHEST OI OF 80.59 LAC. VIX CLOSED AT 18.18 MARK DOWN BY ALMOST 1%. SO 5700 HAS EMERGED AS A VERY STRONG SUPPORT AND 5900 MARK REMAINS THE NEXT RESISTANCE.

BUY ABOVE 5860 SL 5820 TGT 5900-5920

SELL BELOW 5820 SL 5860 TGT 5790-5770

NIFTY UPDATES 13613

MARKETS ARE IN FIRM GRIP OF THE BEARS AND EVERY BOUNCE IN THE NIFTY IS PROVING SHORT LIVED. TOMORROW BEING WEEKLY CLOSE WITH VIX ABOVE 19 MARK MARKETS MAY MOVE ERRATICALLY. 5772 IS THE WEEKLY SUPPORT LEVEL FOR THE NIFTY FOR WHICH BULLS MAY FIGHT TOMORROW. AS PER OPTION CHAIN 5700 PE IS HAVING OI OF 71.28 LAC WHEREAS OI AT 5700 CE IS 35.65 LAC WITH ADDITION OF HUGE 20 LAC IN OI. TOTAL OI AT 5800 CE AND 5800 PE IS 56.5 LAC AND 52.4 LAC. OI AT 5900 CE IS 65.63 LAC. SO 5700 IS THE STRONG SUPPORT FOR THE BULLS. CONSIDERING ALMOST EQUAL OI AT 5800 MARK TOUGH FIGHT WILL BE SEEN FOR 5772 LEVELS AS MENTIONED EARLIER. 

NIFTY UPDATES 12613

NIFTY KISSED VERY CRUCIAL SUPPORT AROUND 5740 AND JUST MANAGED TO CLOSE ABOVE 5760 MARK. AFTER CONTINUOUS DECLINE IT FORMED A DOJI CANDLESTICK ON A DAILY CHART. AS PER OPTION CHAIN 5700 PE IS HAVING HIGHEST OI OF 73.12 LAC. TOTAL OI AT 5800 CE AND 5800 PE IS 53 LAC AND 63.6 LAC. LIQUIDATION WAS SEEN IN 5900 PE. TOTAL OI AT 5900 CE IS 57 LAC AND AT 6000 CE IS 75.5 LAC. VIX CLOSED AT 18.85 MARK AFTER KISSING ALMOST 20 LEVEL. RUPEE STRENGTHENED AFTER GOVERNMENT INTERVENTION AND INDIA'S RATING WAS UPGRADED TO STABLE FROM NEGATIVE. CONSIDERING ALL THESE FACTORS IT IS EVIDENT THAT MARKETS MAY CONSOLIDATE OR MOVE NORTHWARDS THOUGH THE OVERALL TREND IS STILL NEGATIVE WITH NO SIGN OF REVERSAL. GOING FORWARD TILL RBI MEET WE BELIEVE MARKETS MAY CONSOLIDATE IN RANGE OF 5750 TO 5900 WITH HIGHLY STOCK SPECIFIC MOVES. BUT AS VIX IS TRADING CLOSE TO 20 TRADERS ARE ADVISED TO EXERCISE EXTRA CAUTION AND AVOID OVER LEVERAGING. 

NIFTY UPDATES 11613

CONSIDERING THE OVERSOLD POSITION IN INDEX MAJORS AND THE FACT THAT NIFTY WAS HOLDING 5860 ON CLOSING BASIS WE EXPECTED A TECHNICAL BOUNCE BACK TODAY BUT NIFTY OPENED GAP DOWN AND TRADED WITH NEGATIVE BIAS THROUGH OUT THE DAY MAINLY DUE TO THE WEAKENING RUPEE. HEAVY LIQUIDATION SEEN IN 5900 PE AND HUGE OPEN INTEREST BUILT UP AT 5800 CE. SO AFTER LOSING 6000 LEVELS BULLS WERE UNABLE TO HOLD 5900 MARK. TOTAL OI AT 5800 PE IS 63.42 LAC AND OI AT 5700 PE IS 65.12 LAC. TOTAL OI AT 5900 CE IS 52.34 LAC. VIX ROSE BY 7.6% AND CLOSED ABOVE 19 MARK. SO MARKETS ARE EXPECTED TO BE HIGHLY VOLATILE AHEAD AND TRADERS ARE ADVISED TO AVOID OVER LEVERAGING POSITION OVERNIGHT.

SUPPORT 5740-5725

RESISTANCE 5815-5840