Nifty hovered around 5300 levels yesterday with 5333 acting as the resistance level and closed the day on a neutral basis at 5323.
Options data saw unwinding towards the end of the session, both in 5300 calls and 5300 puts and both registering a huge turnover again for the third day of 10000 crores. Since unwinding was seen in 5200 calls as well as 5400 puts, the most likely expiry close for the june series is around 5302 levels and if bulls be able to give the final push in the later half of the session then Nifty might move on to 5354 levels.
How to trade?
A close watch on 5300 call and 5300 put open interest is required and if the accumulation is heavy in 5300 puts, then Nifty can go for a higher close of around 5354 levels. So any break below 5300 level is a buy point for the day. Depending on how it spans out, option trades will be posted separately. Watch out http://www.stockezy.com/opinions/tripleint/active-fno/
Resistance levels : 5333, 5354, 5365
Support levels : 5302, 5285, 5268
-Happy Trading
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