LAST DAY SNAP SHOT:-
The markets closed with moderate gains today with oil & gas, power, banking and auto being the biggest gainers. Realty and healthcare, too, made substantial gains while consumer durables, FMCG and IT closed negative. The Sensex closed at 16907, up 24 points from its previous close, and the Nifty shut shop at 5121, up 6 points. The CNX Midcap index was up 0.6% while the BSE Small Cap index gained 0.02% in today's trade. The market breadth was negative with advances at 684 against declines of 731 on the NSE. The top Nifty gainers wereGAIL, Grasim, Tata Power, and Power Grid while the biggest losers included SAIL, HUL, Sesa Goa, and Sterlite.
CURRENT TECHNICAL SITUATION:-
Nifty 5200 call has highest open interest both in June and July series, indicating that 5200 is a big resistance for Nifty. Today 5200 call added 667,850 shares in open interest, and 5200 put decreased 401,250 shares from open interest. At current strike the activity is tilted to call side but writing of put is slightly increasing at 5100 level. The Nifty Put option is trading at discount so sentiment at lower level seems cautious. Yesterday Nifty Put option has added 995.2 lakh position and Nifty call option has added 665.83 lakh position in open interest on cumulative basis Money flow wise Nifty Put option has added 24.97 crores in value and Nifty call option has added 10.82 crores on cumulative basis. Nifty 5100 put added 882,800 shares in open interest, Indicating again volatile and range bound session for next day.
As per chart analysis any close below 5106 Nifty may drag for further fall. any close above 5204 bull may take nifty upto 5300 level.
Intraday trading is advisable for rest of June series.
Good luck
