
On Friday, Nifty gave a scare to the Bulls by breaking below its three day swing low of 5855 and closing below it. I has become a Sell on Rallies as long as it stays below this level for the time being. Upside, now till we get a close above 5920/5925 Spot, this uptrend will be considered as Paused. The broad range for nifty spot will now be considered at 5600 to 6000. Till it stays within these limits, the broad range it will be considered a sideways and directionless market.
The Options OI table is given below:

For tomorrow, crucial level for Nifty spot on upside is 5870-5880. For any upside to come, it will have to sustain above this level. Above 5880, it can again target its strong resistance zone of 5920-5930. If manages to cross 5930 also, we expect an intraday short covering rally from the weak Bears. On the downside, immediate support for Nifty spot comes at Friday's low of 5820-5825 zone. Below this, a retest of 5805-5770 is most likely. Below 5770, weak Bulls will panic and cause some sharp falls in the Nifty.
11 Apr: Nifty spot resistance at 5880-5920-5950-5980. Support at 5825-5805-5770-5745 - www.niftypower.com
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Premarket Call: Sell Nifty Future below 5840 Stoploss above 5860 Targets 5820-5790 and below (manage your positions when Call moves 10 points+ in your direction)
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