Nifty MP Chart
"Volumes speak volumes about the market ..."
OI Analysis -- Silence of the Bears
Quick Summary:1. First sign of blood tasting by bears -- 5400CE addition of 10L and 5400PE addition of 9L.
2. The good part is still 5300PEs have a monster OI of 1.1Cr which will put a floor to this market for now. Also at 5400 PE/CE ratio not totally favoring bears at the moment. So any gap down near 5350/5330 might lead to an intraday rise close to 5400.
3. Lower level put addition seen last week @5200/5100
Nifty Futures:
3.34Cr OI up 2.6% -- Monster OI for sure!
Banknifty Futures:
30.6L OI down 1.8% -- well some folks are in big profits and they probably booked out.
In US markets -- Bears have woken up from hibernation
"Support" are you there?.... Hello...
Nifty managed to give a closing above its 5500 mark at 5530 and it will continue to face resistance at 5500 level. Decisive closing above 5500 may lead it towards the levels of 5600 to 5610 in near run. The immediate intraday support for Nifty Future seems to be at the levels of 5440 to 5450. Decisive closing below this support zone may slip it till the lower levels of 5400 and 5350 in near run.
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