Wednesday, November 10, 2010

A close above 6300 again and a consolidation for the week...


Markets were confined between the key levels of 6234 and 6312 yesterday and after testing low levels, there was also a strong bounce towards the end of the session to close above 6300 levels for the first time after the Muhurat session.

Options data saw an increase of around 16 lakhs in 6300 puts. There was also increase seen in all other near strike puts and calls and PCR came down to 1.07.

Nifty is consolidating around 6280 levels and might be hovering in the range till this friday before going for a rally next week.


Resistance levels : 6312, 6336, 6366


Support levels : 6265, 6234, 6203



-Happy Trading

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