Wednesday, March 30, 2011

A correction in the penultimate session for the March series ?!


Yesterday markets saw a rally for the sixth straight session and after reaching a high of 5770 levels, Nifty closed at 5736 levels.

There were increase in OI seen in both 5800 puts and calls and 5700 puts added 20 lakhs in OI.
PCR is neutral at 1.10 levels.

It is likely that market will correct towards 5667 levels in this session breaking the 200 DMA on the downside before staging another rally for the expiry session tomorrow.

Resistance levels : 5743, 5763, 5803

Support levels : 5725, 5703, 5667


-Happy Trading

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