Thursday, September 16, 2010

A consolidation before the next move towards the target of 5942


Nifty made another bullish move yesterday and for seven straight sessions had a higher close.

Options data saw increase in OI in 5800 and also 5900 puts. On the call side 6000 calls saw an increase in OI.

Overall it looks like markets will consolidate for a session or two at this level before it can reach the target of 5942.


Resistance levels : 5885, 5901

Support levels : 5845, 5828





-Happy Trading

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