AS I HAVE INDICATED IN MY EARLIER POST THAT NIFTY MAY COME UP TO 5586 AND 5550 BUT TODAYS MOVE OF NIFTY CHANGED THE VIEWS. I THOUGHT THAT MARKET WILL COME FIRST 5586-5550 THEN IT WILL GO TOWARDS 5900 BUT SLOWLY BULLS RETURN IN TO THE MARKET. TODAY IT GAVE A CLOSE ABOVE 5714. BUT STILL IT IS IN RISKY ZONE AND IT WILL COME IN SAFE ZONE ONLY ABOVE 5735. ON THE DOWNSIDE, NOW 5686 IS THE BIG SUPPORT FOR BULLS. 5644, AND 5600 ARE THE OTHER IMPORTANT SUPPORTS FOR BULLS. NIFTY 5600 PUT HIGHEST OPEN INTEREST CONFIRMING THIS SUPPORT LEVEL ALSO. ON THE UP SIDE, 5735, 5775, 5815 AND 5845 ARE THE NEXT RESISTANCES. AS I CONSIDER TODAYS MOVE THEN ONE THING COME INTO THE MIND THAT IT SEEMS NIFTY IS READY TO GO ABOVE 5800 AGAIN BEFORE EXPIRY OF OCTOBER SERIES. ANY FALL BELOW 5686 NOW CAN CHANGE THE UPSIDE VIEWS.
TODAY NIFTY 5700 PUT ADDED 17,77,400 FRESH SHARES IN OPEN INTEREST AND 5700 CALL DECREASED 14,98,750 SHARES FROM OPEN INTEREST INDICATING THAT 5700 LEVEL IS READY TO PERFORM AS SHORT TERM BASE FOR NIFTY. NIFTY 5800 CALL ALSO DECREASED MORE THAN 22 LAKH SHARES FROM OPEN INTEREST AND 5800 PUT ADDED MORE THAN 6 LAKH SHARES IN OPEN INTEREST GIVING AN INDICATION THAT NIFTY MAY GO ABOVE 5800 LEVEL BEFORE EXPIRY.
ONLY 250 POINTS PER MONTH IN NIFTY FUTURE MAY GIVE YOU 4 LAKH PER MONTH INCOME IN JUST 20 MONTHS.
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