The markets gained moderately today with capital goods, banking and power being the lead gainers. Oil & gas, healthcare and IT, too, made significant gains while realty, FMCG and consumer durables lost significantly. The Sensex closed at 16021, up 32 points from its previous close, and the Nifty shut closed at 4863, up 15 points.
Nifty 4800 put added 389050 shares in open interest and 4900 call added 444250 shares in open interest. Nifty future up by 0.12% and negative oi decreased by 0.41% indicating that shorts have been covered by big money today. As per option open interest data nifty indicating that it will fight again between 4800 strike price and 4900. Nifty made high of 4898 but did not sustained. Until unless it give close above 4890 and 4940 situation will remain same. above 4940 situation will be change till than sell nifty on every rise will be good strategy. As per slow stochastic on daily and weekly charts nifty is in oversold zone so keep this point always in mind. Above 4890 nifty will kiss 4940 after that it will jump min.150 points up side. Any close below 4770 we may see 4720-4640-4530 level very soon. Intraday trading strategy is good for two three days.
WARNING:- Don't keep long closing below 4810 and don't keep short closing above 4940. Firstly watch opening hour tomorrow, if nifty trade below 4850 for an hour it may taste 4820, and if it trade above 4860 for an hour it may kiss today's high tomorrow also. If market fall in first half session there is a chance of recovery in second half.
Nifty 4800 put added 389050 shares in open interest and 4900 call added 444250 shares in open interest. Nifty future up by 0.12% and negative oi decreased by 0.41% indicating that shorts have been covered by big money today. As per option open interest data nifty indicating that it will fight again between 4800 strike price and 4900. Nifty made high of 4898 but did not sustained. Until unless it give close above 4890 and 4940 situation will remain same. above 4940 situation will be change till than sell nifty on every rise will be good strategy. As per slow stochastic on daily and weekly charts nifty is in oversold zone so keep this point always in mind. Above 4890 nifty will kiss 4940 after that it will jump min.150 points up side. Any close below 4770 we may see 4720-4640-4530 level very soon. Intraday trading strategy is good for two three days.
WARNING:- Don't keep long closing below 4810 and don't keep short closing above 4940. Firstly watch opening hour tomorrow, if nifty trade below 4850 for an hour it may taste 4820, and if it trade above 4860 for an hour it may kiss today's high tomorrow also. If market fall in first half session there is a chance of recovery in second half.
