15 Sep: Nifty Views

Nifty spot, it was written yesterday real resistance will come only at 5820-5835 levels. Nifty made exact high near 5835 levels and reversed sharply from there. We sold at the exact resistance point and got easy points in Day Trading.

For today, nothing much has changed from yesterday. We have had some bit of cooling down and there might be some more today.




The Options OI data indicate Call unwinding at 5700, 5800 levels and small Put Addition at 5700 and 5800 levels. Not much Call writing is seen which is understandable as Call writers have faced heavy losses this month. Hence, the upside is still open for the Nifty while on the downside supports exists.

For the day, first resistance comes at 5810-5815 spot levels above which Nifty may again try to hit 5835-5855 levels where it will again face resistance. On the downside, supports exits at 5785-5775 levels, below which, next immediate support will come at 5760-5750 levels. Positional shorts are not advised yet. Shorting can be done only on intraday basis, but be quick to book gains.

15 Sep - Nifty spot resistance at 5810-5835-5845-5870. Support at 5785-5775-5750-5715 - www.niftypower.com

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