After yesteray's short covering rally ...we can expect range bound trades or some selling pressure today in our market.... possible support 4805 spot ....upside resistance 4932 ..have a nice day
You can see open interest reduced by 5 84 700 in Nifty on up move ..not a healthy sign ..
and remember that if market moved up due to short covering only it will have to stay there only for some time or it must correct to the lower level....
Today's possible levels 4805 4932 5029
You can see open interest reduced by 5 84 700 in Nifty on up move ..not a healthy sign ..
Mon-28/11/2011 | 4750.0 | 4874.8 | 4750.0 | 4870.3 | 362,243 | 21,332,600 | -584,700 | 243515.0 | 4851.3 |
and remember that if market moved up due to short covering only it will have to stay there only for some time or it must correct to the lower level....
Today's possible levels 4805 4932 5029
Nifty hourly chart is indicating that momentum was reduced in last hour ..
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