- Nifty closed at 5983.55 up by 16.50 points
- Nifty future closed at 5985.40 Premium of 1.85 points
- Open interest of the nifty is 2,42,02,750 down by 7,31,600 with huge Long liquidation.
- Advances 700 Declines 591 Unchanged 72
- Index gainers Tata Steel, Tata power, LT, Lubin....
- Index losers Sun pharma, Cipla, BHEL, TCS....
- 52 week high Eicher motors, Castrol, United spirits....
- 52 week low Andhra bank, Future retail, GSPL, IOB, Jindal steel....
- Banned stock for 24th - May =Hdil, Renuka
Put option =47647050
------------
Call option=40550100
PCR =1.17
Market again closed on confusion stage. As of now it having strong support around 5940-5929 range. Once nifty break this level then market will get weak. Also upper side 6043-6050 will be strong resistance for next one week. Nifty exactly bounced from our support level & face resistance at our resistance level. If we consider with open interest table 6000 is the key level for both bulls & Bears. Both call & Put at 6000 was having more than 65lak shares in OI. On upside 6100 call giving massive resistance with more than 80lak shares in OI, & Down side 5900put holding more than 80lak shares in OI. So nifty would be in 200 point range for next one week. Put-Call Ratio of nifty looking good for bulls, it stays around 1.17. After a long time FII's sold in cash segment. This will give little shake for bulls.
In Bank nifty 12500 giving some support for bulls, so any close below 12500, it may come down & create some bottom. Upto that no problem for bulls. If bank nifty break 12500 then next down side support will be at 12200. We expect market would go some consolidation for next few days. Last two month market has met more volatile, this volatile is necessary for making new fresh high. One more thing, any single close below 5853 nifty might fall more from there. Upto that we have some support levels at 5930-5891-5870-5853 and Up side we have resistance at 6007-6028-6049-6085. Keep watch these levels for next week. Expiry week so trade carefully.
Trend of the day
First half will be flat, If nifty would not break 5942 in first half, then second half favor for bulls other wise nifty will close Red.
Nifty levels
Nifty support - 5968-5959, 5929-5940 (major)
Nifty Resistance - 6000-6007, 6040-6046(major)
Stock Calls
Titan : Buy above 277 sl 271 target
will be 282, 286
Jsw Steel : Buy above 716 sl 707 target
will be 723, 730
Option Call
Lic : Buy 280 Call around 2.3-2.8 sl 1
Target will be 4, 5.3
Delivery Call
Tata steel : Buy above 316 sl 307 target
will be 325, 334
keep hold all stocks we will give proper exit level.
THANKS & REGARDS 90422-04422
NSEBSENOW E-mail-- nsebsenow@gmail.com
