Thursday, April 28, 2011

Nifty in Coming Days

Here is the analysis of Nifty in coming days after today's expiry.
On the Options front we can see lot of unwinding happened at 5800 and 5900 PUTS in April Series. Going forward to May series Traders made positions at  5700 ,5600 PUTS means in coming days market might reach these levels on Downside  with Huge OI at ,5600 PE  levels means we have Strong Support at 5600 in coming days  and  on the Upside we have 5800 ,5900,6000 Call Writings, With huge OI at 6000 CE levels means 6000 will act as Strong Resistance for the next week