Nifty closed in red but still above 20 week moving average means bouncing from this level may take nifty towards 6080 but selling with volumes below 5870 will take nifty to 5750 5600 level…. as per weekly chart 5870 is strong support .
Daily eod nifty chart is indicating that inverted hammer with long tail closed just below 50 dma… above it bulls empire and below 5887 bears will dominate ,rsi is below 30 volume is low and macd histogram may converge next week … 5790 is very very strong support as par daily chart …6000 6040 are easy nifty targets if bounce will be seen.
oi table is showing that open interest is decreasing with correction in Nifty is indicating that long unwinding is going on and upblast at any moment may surprise to market participant . stay alerted and do not take it lightly.
Nifty on Friday moved as per prediction and buying at low and selling at top of the market was observed at dhanvarsha chatroom .. few traders may or may not be holding nifty long with them at 5890 5900 level but advised to buy at low as btst trade .
admin: BUY nifty at cmp sl 5888 BUY ce at 50 52 sl 43
admin: SELL nifty at 5972 BUY pe at 64
targets
admin: 5906 – 5926 – 5945 – 5964
7 Jun 13, 01:00 PM
aks: about + 20 point gain in nifty 6000ce and +1 nifty5900pe @64.65
conclusion….
5870 is crucial …above it nifty may trade upto 6100 and below tht 5790 5700 so we may expect nifty range 5870 +/- 180 points for coming week ….
Nifty macro and micro analysis for week ending 14 Jun 13
