Friday, August 26, 2011
Thursday, August 25, 2011
Is nifty heading to a close near 4800 levels for August expiry ?!
Yesterday markets saw a break down of 4900 levels and also closed below that. Throughout the series bears were able to pull back nifty from any small bounce and it is expected that bears will take control for the expiry also and push nifty for a close around 4804 levels today.
The important ceiling to watch out for today is 4927 level and it is not expected that the markets will go above that level in the initial half of trade, the hard ceiling being 4941.
Resistance levels : 4906, 4927, 4941
Support levels : 4872, 4845, 4796
Wednesday, August 24, 2011
Tuesday, August 23, 2011
Friday, August 19, 2011
Thursday, August 18, 2011
A break of 5000 support today ?!
Nifty has been hovering in a tight range for more than a week with strong resistance around 5200 levels and has been taking support everytime it nears 5000 levels.
It looks like bears can take control today and push nifty below the key level of 5000, and can even take nifty to test 4906 levels for the day. Yesterday was a change in sentiment where towards the end of the day, the implied volatility of puts were less than the calls and Nifty went into heavy premium towards the end.
The highest OI in any contract till now is only around 75 lakhs and it has not touched the crore mark for any strike. Yesterday again there was a huge increase in 4800 puts OI.
Resistance levels : 5079, 5112, 5144
Support levels : 5036, 4946, 4906
Thursday, August 11, 2011
Wednesday, August 10, 2011
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