30 Nov - Nifty View

Nifty opened flat today, and traded between its first resistance of 4860 and support for 4820 for the first half, then it broke the support to reach the second support near 4690, and finally recovered a bit to close near the 4800 level. Tomorrow can be a good short term trend deciding day for the Nifty. An upward correction to the big fall from 5400 is on, and it is anybody's guess how far it can go. 4790/4800 levels can be the deciding level for this rally tomorrow. A break below 4770 would confirm a resumption of the downtrend, while a break above 4845/4850 would lead Nifty toward 4900/4960 kind of levels. Treat 4800 as the pivot for tomorrow and take a Hedged Long or Short Trade - Long above it and Short below. The hedging can be removed once Nifty breaks 4770 on the downside or 4850 on the upside.

The Nifty Option Open Interest charts are given below:


Finally, the Bears decided to act today and made it their day. The added 19 lacs+ OI from 4800 CE to 5000 CE strikes. The Bulls were absent today,a and did little else than covering a small amount of OI at various trikes. 4700 and 4500 are the good support levels for this series, while 5000 is the biggest resistance as of now. 4800 is a minor support, while 4900 is a minor resistance.

For tomorrow, immediate resistance for Nifty Spot now comes at 4825 and 4845 levels. Above 4845, short covering can quickly take it towards 4900+ kind of levels. On the downside, support for Nifty Spot comes at 4785/4770 levels. Below 4770, intraday panic will be created by the Bears, for levels of 4720 and 4690. As given earlier, treat 4800 as pivot for tomorrow, and stay long above it and short below it.

30 Nov - Nifty Spot resistance at 4825-4845-4875-4905. Support at 4785-4770-4745-4720 - www.niftypower.com

Visit here for Nifty Tips, Nifty Future Tips and Nifty Option Tips

29 Nov - Nifty View

Nifty opened above the range of Inside Day formed on Friday, and continued its upward journey to close near the highs of the day near the resistance level of 4860. In Yesterday's Nifty View, it was written the fresh Positional Trade can be taken above 4770 Spot for targets of 4860+. That trade is already near the target level. Now,consider the trend to be up till Nifty Stays above 4770 Spot. Upward resistance levels to watch out and probable profit booking zones are 4905 and 4960. The larger trend still remains down, but no point in trying to guess the Tops and Bottoms. Ride the upmove as long as it lasts. If and when it breaks the support zone, exit the longs and Go Short. Till then, stop worrying and enjoy the profits.

The Nifty Option Open Interest charts are given below:


The Bears were already reluctant to add OI early in this series, and today, the started covering at lower strikes, giving confidence to the Bulls. The Bulls on the other hand, seem to be very confident of holding the supports in this series. They have already piled up nearly 70 lacs OI at 4500 PE and 4700 PE strikes. The narrow range as per the Options Charts is from 4700 to 5000 as of now. 4800 is a minor support, while 4900 is a minor resistance. Looking at the reluctance of both Bulls and Bears to add OI at 4900 PE and 4900 CE strikes, it seems like Nifty will spend some time around this level before making the next decisive move.

For tomorrow, immediate resistance for Nifty Spot now comes at 4860 level. If gaps up above this or moves above this in intraday, then next resistances comes at 4900/ 4930 and 4960 levels. On the downside, support for Nifty Spot comes at 4820/4815 levels. If slides below these levels, then today's breakout level of 4770 can be tested again. Below 4770, once again the Bears can push Nifty below 4700 levels.

29 Nov - Nifty Spot resistance at 4860-4890-4905-4930. Support at 4820-4790-4770-4745 - www.niftypower.com

Visit here for Nifty Tips and Nifty Option Tips

28 Nov - Nifty View

On Friday, Nifty opened with a gap down, but recovered and closed that gap in intraday trade, and then again slid to close the day near 4700 level. In the process, it formed an Inside Day on Daily Charts. A break out of the range of an Inside Day generally leads to bigger moves in the direction of the trade. Hence, levels to watch for that break are now at 4690 on the downside and 4770 on the upside. New Positional trades can be taken once these levels are taken out.

The Nifty Option Open Interest charts are given below:


It was the first day of the series, and as expected, both the Bulls and the Bears added OI in various strikes of Calls and Puts. Most notable is the Open Interest addition of 19 lacs+ by the Bulls at 4800 CE and 5100 CE strikes. Th Bears added equivalent amount at 4700 PE and below strikes. This series starts with a broad range of 4500 to 5000. The Bulls have already built positions at 4700 PE and below strikes. The Bears on the other hand, haven't done much and needs to build some more resistance on the upside.

For tomorrow, immediate resistance for Nifty Spot comes at 4720/4725 levels. If it stays above these, it will attempt upper resistance levels of 4745 and 4770. As given earlier, breakout from 4770 can give bigger moves, which can led Nifty to 4860+ and much higher levels. On the downside, support for Nifty Spot comes at 4690 levels. Failure to hold this, will again lead to a retest of recent support of 4640. Below 4640, another 70-100 point fall can come quickly in Nifty.

28 Nov - Nifty Spot resistance at 4725-4745-4770-4805. Support at 4690-4670-4640-4575 - www.niftypower.com

Visit here for Nifty Future Tips and Nifty Option Tips

25 Nov - Nifty View

On Expiry day, Nifty held on to the lows of Wednesday and made a strong recovery to close near the highs of the day. In Yesterday's Option Analysis, we had observed some dumb Call Writing by the Bears (more than 45 lacs+). These Bears were punished heavily today. Nifty has found a new support level of 4640 below the previous low of 4720 now. Now, unless this low is broken, it should again form a trading range before Breaking Out/ Breaking Down. Hence, the time for initiating some Positional trades is coming.

The Nifty Option Open Interest charts are given below:

In the December series, the Bulls added 27 lacs+ OI from 4300 PE to 4700 PE strikes today. On the other hand, the Bears added 31 lacs+ Oi from 4700 CE to 5100 CE strikes. Th highest open interest in Puts can be seen at 4500 PE as of now. On the call side, the highest open interest is at 5000 CE as of now. This is the broad range as of now. Interesting to not that the OI at 4800 PE is more than that of 4800 CE. This is the case when Nifty is comfortably trading below 4800 level. As and when Nifty reaches this level, the open interest at this level will give guidance on the direction of the coming wave.

For tomorrow, immediate resistance for Nifty Spot comes at 4760 and 4785 levels. Above this, it will head towards 4810 and 4855 levels, where again, the Bears are expected to put a lot of selling pressure. However, if the Bulls manage to sustain above 4860, the then targets of 4960 and 5030 will open up Positionally. On the downside, support for Nifty Spot comes at 4720 level. Below this, Nifty can again slide towards 4690-4665 and 4640 level. Below 4640 now, sub 4600 levels can come quickly. Today, Nifty has shown the first signs of a corrective upmove in this downtrend. Let This may continue for 1-2 days more, before resumption of the downtrend. Trade accordingly.

25 Nov - Nifty Spot resistance at 4760-4785-4810-4855. Support at 4720-4690-4665-4640 - www.niftypower.com

Visit here for Nifty Future Tips and Nifty Option Tips

24 Nov - Nifty View

In Yesterday's Nifty View, it was given that "... support for Nifty Spot comes at 4785/4780 levels. If breaks and sustains below this, then a test and break of 4700 on Expiry will be on the cards, with minor supports at 4760 and 4720 levels...". Nifty opened below 4780, immediately went till 4738, came up again to test 4760 again, and then declined to make a low at 4640 levels, before recovering and closing above 4700 levels. Having a trading plan and levels at which to trade before the market, helps in tiding over the intraday volatility. After today's move, Nifty has broken the Yearly Low. This would have turned another Lot of Bulls to Bears. The trend remains down. We have a handful of levels to watch, if Nifty tries to have a relief rally. On the downside, there are no more support levels, but broad support zones left. Nifty will be forming and giving some supports levels in the coming days to trade.

The Nifty Option Open Interest charts are given below:

One day before the Expiry, one would generally not expect any major Option writing to happen. However, the opposite can be seen from the Option Charts. The Bulls added a huge amount of 45 lacs+ OI from 4600 CE to 4800 CE strikes, the maximum being at 4700 CE. The Bears also added 8 lacs+ OI at 4600 PE, but covered at higher strikes. Whether the exuberance shown by the Bulls today pays or backfires, has to be seen tomorrow. But such a huge amount of OI addition one day before the expiry is definitely not smart trading.

For tomorrow, immediate resistance for Nifty Spot comes at 4715/4720 levels. Above this, it will head higher to test resistances at 4760 and 4780 level. On the downside, support exists at 4680/4675 levels, below which, it will slide again towards todays low of 4640. Below 4640, 4580 will be the target for the Bears. As tomorrow is Expiry, trade light and only at the levels with tight stoplosses.

24 Nov - Nifty Spot resistance at 4720-4745-4780-4810. Support at 4680-4640-4620-4580 - www.niftypower.com

Visit here for Nifty Future Tips and Nifty Option Tips

23 Nov - Nifty View

On Tuesday, Nifty opened near 4800, and traded with volatility between 4780 to 4855, before closing near to the opening level again. Today was a weak attempt by the Bulls and they just managed to close Nifty above 4800 level. The weakening rupee is a cause of concern being advertised on all media right now, and any intervention by the RBI might be the trigger for taking Nifty to above 4900 levels now. Any rally towards 4900+ levels will now be good to start building Positional Shorts with Stoploss above 5000. The impulsive downmove started when Nifty broke down below 5000, and short term trend should be considered Down as long as Nifty is trading below 5000 now. This should also be the final stoploss for Shorts built up from 4930/4960 levels.

The Nifty Option Open Interest charts are given below:

Just two days before Expiry, it is good to see some profit booking by Both the Bulls and the Bears. There was a small addition at 4700 PE strike of 4 lacs+ OI, but it is insignificant now, so close to the expiry. Looking at the option Charts, it seems that the major move for this series might have been done already, and nothing spectacular should be expectd from the last to days. The range is 4700 to 5000 as of now.

For tomorrow, immediate resistance for Nifty Spot comes near 4830/4835 levels. Sustaining above this, the intraday trend will remain positive, and NIfty should attempt higher levels resistances of 4860 and even 4900+ levels. On the downside, support for Nifty Spot comes at 4785/4780 levels. If breaks and sustains below this, then a test and break of 4700 on Expiry will be on the cards, with minor supports at 4760 and 4720 levels.

23 Nov - Nifty Spot resistance at 4830-4860-4885-4915. Support at 4780-4760-4720-4675 - www.niftypower.com

Visit here for Nifty Future Tips and Nifty Option Tips

22 Nov - Nifty View

Nifty opened down again today, broke the lows made on Friday, and closed below 4800 levels. Sell on Rallies was the mantra. However, the rallies have not come, so that trade plan could not be followed under present market conditions. For those who have missed the train, better let it go and wait for Fresh opportunity. The trend remains Down and hence Buying is not an option. On the other hand, Fresh Shorts will have to keep a large stoploss above 5000 levels. Such a large stoploss does not give a good Risk: Reward Trade. Hence, it is better to wait for a better opportunity to open fresh Positional Shorts. We might get such an opportunity this week. Till then, trade intraday, by Selling on Rallies.

The Nifty Option Open Interest charts are given below:

As per the Option Charts, the Bulls have their back to the walls now. The Bears continue to add huge Open Interest while the Bulls are covering their earlier written positions. Once again, a huge amount of 36 lac+ OI was added from 4700 CE to 4900 CE strikes. The Bulls on the other hand, added a small amount at 4700 PE and below strikes, and mostly covered at 4800 PE and above strikes. The range as per the Option Charts is 4700 to 5100 as of now. Although Nifty closed below 4800, the open interest at 4800 PE is more than 4800 CE. 4900 and 5000 are the minor resistance levels.

For tomorrow, immediate resistance for Nifty Spot now comes at 4810/4815 levels. If it manages to sustain above these levels, then it will attempt higher levels of 4840-4865 and 4880. Crosing the zone of 4880/4905 will be very difficult now, however, if it does, we might also see a recovery till 5000 levels on Nifty. On the downside, support for Nifty Spot comes at todays low of 4765/4760 levels. Trading below this, it will head for the recent lows of 4720/4725. Below 4720, no real supports exists, and it will be interesting to see where the fall stops.

22 Nov - Nifty Spot resistance at 4815-4840-4865-4880. Support at 4785-4760-4720-4675 - www.niftypower.com

Visit here for Nifty Future Tips and Nifty Option Tips

21 Nov - Nifty View

Nifty opened at the important level of 4900 on Friday, but broke it and then steadily sold off to make a low near its supprt level of 4840. Thereafter, it made a good recovery to finish the day above 4900 level. The Daily Candle formed depicts a Bullish picture for Monday if Nifty manages to stay above the close of Friday. Also, the oscillators are at oversold levels and we may see a technical bounce towards higher levels. However, use this bounce to slowly build Short Positions upto 4990/5000 level, with a Stop and Reverse above 5050 Nifty Spot. As long as Nifty is trading below 5050, there is more possibility of a decline towards 4700 than a retest of higher levels.

The Nifty Option Open Interest charts are given below:

Although we saw some recovery on Friday, the Option Charts turned a little more Bearish. The Bulls seemed to have backed off, as they covered a huge amount 45 lacs+ OI from 4900 PE to 5200 PE strikes. The confidence, if any was shown in addition of 27 lacs+ OI at 4700 PE and 4600 PE strikes. The Bulls, on the other hand, moved one strike lower and added a huge amount of 15 lacs+ OI at 4800 CE. After the move of Friday, 4900 has now become the new 50:50 level between the Bulls and the Bears. The immediate range is 4800 to 5100.

For tomorrow, immediate resistance for Nifty Spot now comes at 4920/4930 levels, above which, it short covering can pull it up towards 4975 levels. The zone of 4975-5005, if reached, will be a re-selling zone to build positional shorts, with Stop and Reverse above 5050 on closing basis. On the downside, support for Nifty Spot now comes at 4860/4885 levels. Below this, it will slide to test Friday's low of 4845/4840. Below Friday's low, we may see panic selling for sub 4800 levels on Nifty.

21 Nov - Nifty Spot resistance and 4925-4960-4975-5005. Support at 4885-4860-4840-4810 - www.niftypower.com

Visit here for Nifty Future Tips and Nifty Option Tips

18 Nov - Nifty View

On Thursday, Nifty finally broke down below 5000 and as expected, created some panic selling from the Bulls. Few traders would have been able to catch it, due to the fast movement. Market generally gives you a second chance, but when and how it will come, remains to be seen. Next Stop for Nifty can be near to today's low near 4900 level or near 4845 level. We still maintain that this is not the time to enter Fresh Shorts. Those who could enter fresh shorts at the break of 5000, should now maintain a stoploss above todays high of 5035/5040 now. Others wait for a pullback to Sell at higher levels. Nifty is fast approaching Oversold levels. Since the Trend remains down, No Long Trades can be advised. However, Resell only when the Chart structure becomes a little better. Never run after a missed train. Catch the Next One.

The Nifty Option Open Interest charts are given below:

The Option Charts have been dominated by the Bears this week. They continued this domination today also. A Huge amount of 62 lacs+ OI was added from 4800 CE to 5300 CE strikes. 4900 CE and 5000 CE saw the maximum addition pf 27 lacs+ and 12 lacs+ respectively. The Bulls added a decent amount of 11 lacs+ at 4900 PE strike, but covered a Huge amount of 30 lacs+ at 5000 PE and 5100 PE. With today's move, the Bears have converted the strong support of 5000 to a 50:50 level. The range has also been contracted from 5000-5400 to 4900-5200 now. Beyond this, further trending moves will be seen.

For tomorrow, immediate resistance for Nifty Spot now comes at 4950/4960 and then at 4995/5005 zone. Any move towards 5000 can be used to start building short positions now. On the downside, support for Nifty Spot comes around 4890/4900 level. Below this, it will slide towards 4840/4850 levels. As the Oscillators are at oversold level, we may see some bounce from these Support Levels.

18 Nov - Nifty Spot resistance at 4955-4995-5030-5055. Support at 4910-4890-4845-4810 - www.niftypower.com

Visit here for Nifty Future Tips and Nifty Option Tips

17 Nov - Nifty View

On Wednesday, Nifty almost broke down below 5000, before making a volatile recovery and managing to close near the Tuesday's close. As given yesterday also, this is not the time to enter into fresh Positional Shorts. Instead, wait to see how Nifty reacts at 5000/4980 on the lower end, and at 5130/5150 on the higher end. Any trade near these levels can safely have a Stop and Reverse of 20 Points. Between these levels, the Bulls and Bears are expected to fight it out over the next few days. Till we get a breakout from these levels, tight intraday trades can be taken to take advantage of the volatility.

The Nifty Option Open Interest charts are given below:

The Option open Interest Charts turned a bit more Bearish today. On a day when nifty showed good recovery, one would expect a neutral or a Bullish addition in the charts. Instead, the Bulls covered a huge amount of 45 lacs+ OI between 4800 PE to 5400 PE strikes. The maximum amount of covering was done at 5100 PE strike. On the other hand, the Bears continued to dominate, by adding a huge amount of 17 lacs+ OI at 5000 CE strike. Between 4800 CE and 5400 CE, the Bears added 30 lacs+ OI. After today's move, there is some amount of weakening in the support at 5000, although it still remains the biggest support for this series. 5100 is the battlezone level between the Bulls and the Bears. 5200 and above are the resistances.

For tomorrow, immediate resistance for Nifty Spot comes around 5080/5085 levels. Above this Nifty can go on to test the strong resistance zone of 5130/5150. Any reasonable short covering move should come only above 5150 now. On the downside, immediate support for Nifty Spot comes at 5030/5010 zone. Below these, 4985 is likely to be tested again. Below 4985, panic can take the market down towards 4945 and below levels.

17 Nov - Nifty Spot resistance at 5085-5110-5130-5155. Support at 5030-5010-4985-4945 - www.niftypower.com

Visit here for Nifty Future and Nifty Option Tips

16 Nov - Nifty View

Nifty opened down today, traded rangebound near the unchanged mark for majority of the day, and then sold off near the end to close near its Lows of the day, near 5055 levels. Today's late afternoon movement would have converted a lot of Bulls to Bears. At NiftyPower, we booked our Positional Shorts today. Now, it is the time to Wait and Watch, what happens over the next 2-3 days, before deciding on the next trade. Fresh Shorts are definitely not advisable at this stage, as this move down does not look like an Impulsive Trending Move on the larger time frame. In fact, we are at the bottom of the broad range of 5000 to 5400 now. Longs also, have to wait till nifty gives a close above 5150 as of today. Hence, 5000 to 5150 is the immediate range to watch, without initiating any Positional trades.

The Nifty Option Open Interest charts are given below:

The option Charts turned more Bearish today, but the broader range remained at 5000 to 5400. There is a huge addition of 22 lacs+OI at 5100 CE level by the Bears. This level has become a minor resistance level now. In addition to that, the Bulls covered a huge amount of 21 lacs+ OI at 51oo PE and 5200 PE strikes. Apart from these big additions, small additions was done by the Bulls at 5000 PE and below strikes. 5100 is the immediate battlezone level after today's move. Combining this with the above given levels, 5130/5155 zone will be the toughest resistance zone for Nifty Spot going forward. This should also be the stoploss for those still holding on to shorts. The broad range remains at 5000 to 5400. Hence, Nifty may be closer to the bottom of the range, and any fresh shorts will have confidence only if it sustains below 5000/4980 now.

For tomorrow, immediate resistance for Nifty Spot comes at 5075/5080 levels. Above this, it can attempt higher levels of 5110/5130. The zone of 5130/5155 will be a tough resistance zone for Nifty now. Any fresh upmove will be seen only if it is able to close above this zone. Till then, Sell on Rallies at Resistance Levels should be the mantra for intraday traders. On the downside support for Nifty Spot comes at 5030/5010 levels. Intraday, some relief may be seen if Nifty declines towards these levels. A break of 5010 should open the gates for lower levels of 4975 and 4945.

16 Nov - Nifty Spot resistance at 5080-5110-5130-5155. Support at 5030-5010-4975-4945 - www.niftypower.com

Visit here for Nifty Future and Nifty Option Tips

15 Nov - Nifty View

On Monday, Nifty opened Gap Up on positive global cues, but gave up all its gains to close in the negative zone, and below its breakout zone of 5170/5150. Today's move once again reinstates the fact that as traders, we must look at the technicals of the market that we trade, and not other markets. In Yesterday's Nifty View, it was given that the trend remains down below 5260 on Nifty Spot and 5230/5260 was a probable reselling area. Incidentally, 5228.90 was the high of the day. Global cues do affect the Opening Trades, but where Nifty goes from there, depends entirely on the internal technicals. Positional traders can now keep a stoploss of 5230 for Nifty Shorts. On the downside, 5130 and 5085 are two important support areas to look out for, and probable profit booking areas for shorts created above 5260.

The Nifty Option Open Interest charts are given below:


After many days, we saw both the Bulls and the Bears being active in ITM Options today. The Bulls added 17 lacs+ OI between 4900 PE to 5200 PE strikes, the maximum being at 5100 PE. The Bears added 12 lacs+ OI between 5100 CE to 5400 CE strikes, the maximum being at 5200 CE. Overall, the picture from Options Charts remains unchanged from yesterday. Range is 5000 to 5400, with 5200 as the battlezone level.

For tomorrow, immediate resistance for Nifty Spot now comes at 5150/5155 levels. Above this Nifty Spot will attempt 5180/5185 levels. Above 5185, the failed breakout theory will be nullified and choppy trading will continue between 5180 and 5230 levels. On the downside, support for Nifty Spot comes at 5130/5110 level. If this level breaks, next support levels come at 5085 and 5030 levels. Although we may see a bounce from any of the support levels, any Longs below 5150 Spot will be risky in nature, and should have very tight stoplosses.

15 Nov - Nifty Spot resistance at 5155-5185-5210-5230. Support at 5130-5110-5085-5030 - www.niftypower.com

Visit here for Nifty Tips and Nifty Option Tips

14 November - Nifty View

On Friday, Nifty opened down on negative global cues, but did not break its important support of 5150, and closed above its breakout level of 5170. The immediate trend remains down as long as Nifty is trading below 5260. However, bigger moves will come only if and when it breaks and closes below 5150. Those in Positional Shorts can now maintain a Stop and Reverse above 5260. Intraday traders can trade the range of 5150/5180 to 5230/5260 till we get a breakout from this zone.

The Nifty option Open Interest charts are given below:

The Nifty options Open Interest Charts became a more bearishly inclined on Friday, with the bears adding more than 15 lacs+ OI at 5200 CE strike. The Bulls on the other hand, covered OI at almost all the ITM strikes. The broad range for this month remains to be 5000 to 5400. 5200 has now become a clear battlezone level between the Bulls and the Bears. 5100 is a support level, while 5300 is a resistance level.

For tomorrow, immediate resistance for nifty Spot comes at 5200 and 5230 levels. Above 5230, it will head for next resistance zone of 5250/5260. Intraday traders can try aggressive shorts in the 5230/5260 zone, with a 20 point stoploss. On the downside, support for Nifty Spot comes at 5170/5150 zone. Below 5150, Bears will again take over, and lead Nifty below 5100 level.

14 Nov - Nifty Spot resistance at 5200-5230-5260-5295. Support at 5170-5145-5130-5085 - www.niftypower.com

Visit here for Nifty Future and Nifty Option Tips

11 Nov - Nifty View

In the Nifty View of 9 November, it was given that a break of 5250 looks more likely as of now than a breakout above 5330. On Wednesday, nifty traded rangebound in the morning, and then crashed below our support levels of 5265/5250, to make a low near 5211, and closing near that level. On Friday, Nifty's open will be based on the global cues, but where it goes after opening will depend on the internals. As far as the levels are concerned, the trend remains down till Nifty Spot stays below 5265 now. Any rally towards that level can be used to build shorts. Nifty has broken down from the range of 5250 to 5330, and any trade at this moment should be Short only, TILL it gives a close back above 5250/5260. On the downside, the supports would exist at previous breakout levels of 5175/5150. Some profits should be booked in that zone. If nifty breaks below 5150 also, it can trigger panic among the Bulls.

The Nifty option Open Interest charts are given below:

The Bears had started building their open positions from Tuesday, and they continued to build pressure on Wednesday by adding a good amount of 14 lacs+ open interest from 5100 CE to 5300 CE strikes.The Bulls on the other hand are building support at lower strikes, and they added 13 lacs+ at 5000 PE and 4900 PE strikes. Overall, the broad range for this market is 5000 to 5400. 5100 is a support, 5200 a minor support now, and 5300 a minor resistance.

For tomorrow, immediate resistance for nifty Spot comes at 5250/5265 levels. Any recovery to these levels may see fresh selling from the Bears. However, if the Bulls manage to sustain Nifty above this levels, then a run towards 5300+ levels can be seen again. The real breakout, however, will come only above 5330 levels. On the downside, the support for nifty spot comes at earlier breakout zone of 5175/5150. Some sort of intraday support can come in this zone. Break of these can create panic among the Bulls.

11 Nov - Nifty Spot resistance at 5260-5285-5305-5330. Support at 5205-5175-5150-5130 - www.niftypower.com

Visit here for Nifty Future Option Tips

9 Nov - Nifty View

On Tuesday, Nifty has once again given a close in the 5280/5290 zone for the third day. This is also its fifth close above 5250 level, which should be an important reference point for traders, who are Bearish on the market and want to go Short. A short trade will be very much on below 5250 Spot, to be confirmed by a break of 5230 Spot. On the upside, today also it faced resistance in the strong resistance zone of 5305/5330. This zone was pointed out in the Nifty View of 31 October. After one week, nifty is still facing resistance in this zone. For traders who want to go long, a breakout above this zone, OR a long now with Stop and Reverse below 5250 seems like the ideal trades. For each of these positional trades, one can keep a Stoploss of not more than 25/30 points.

The Nifty option Open Interest charts are given below:


The Bears seem to be slowly taking on the Option Charts. They added a good 17 lacs+ open interest from 5300 CE to 5500 CE levels.The Bulls on the other hand, added a small amount at 5300 PE and covered at 5200 PE strike. Real addition by in the Put Options can only be seen below 5000 PE strike. Looking at today's Option Charts, a break of 5250 seems more likely than a breakout above 5330. However, we will let the markets decide that, and use this data as an indicator only, rather than a decision making tool. Overall, the range for this month remains 5100 to 5400, with 5200 being a minor support and 5300 being a minor resistance.

For tomorrow, immediate resistance for Nifty Spot comes at 5300/5305 levels, above which, a test of the strong resistance level of 5325/5330 is again likely. As given earlier, breakout above this zone should lead us to 5400+ levels, with a minor resistance at 5365 levels. On the downside, support for nifty Spot comes at 5265/5250 levels, below which 5230/5205 and 5170 will be tested. Intraday trend will remain negative, if Nifty trades below 5265/5250 tomorrow.

9 Nov - Nifty Spot resistance at 5305-5330-5365-5395. Support at 5265-5250-5230-5205 - www.niftypower.com

Visit here for Nifty Tips and Nifty Call Put Tips

8 Nov - Nifty View

On Friday, Nifty opened up within the High Resistance Zone of 5310-5330 pointed out in the Nifty View of 4th November, and gave up the gains by end of day, to close near the closing level of Thursday. The levels remain the same for the coming week. 5300/5330 is the strongest resistance zone, which the Bulls need to cross. On the downside, the supports exist at 5260/5230 levels, below which, the Bears will take over. Till we get a Breakout/ Breakdown from this range, this will continue to be a Day Traders and Option Writers Market.

The Nifty option Open Interest charts are given below:

Looking at the near strike price Options, the Bulls have added a small amount of 8.5 lacs+ OI at 5200 PE to 5400 PE strikes. The Bears covered a small amount at 5300 CE and added a small amount at 5400 CE strike. The big additions were at OTM Options of 4900 PE by the Bulls and 5500 CE by the Bears. The range as per the Options Charts is 5000 to 5400. A narrower range is from 5100 to 5400, with 5200 as a good support, and 5300 a minor resistance.

For tomorrow, immediate resistance for Nifty Spot comes near 5290/5295 levels. Above this, it should again head for previously mentioned strong resistance levels of 5325/5330. Above 5330, Nifty may head towards 5400+ levels, with a minor hurdle at 5365 level. On the downside, support for nifty Spot comes at 5260 level. Below this, it will test lower supports of 5230/5205/5170. Intraday trend will remain down below 5260, hence stay short below this level.

8 Nov - Nifty Spot resistance at 5295-5325-5365-5395. Support at 5260-5230-5205-5170 - www.niftypower.com

Visit here for Nifty Future Tips and Nifty Option Tips

4 Nov - Nifty View

Nifty opened down today on negative global cues, declined towards our support level of 5205 (actual low 5201) and then recovered to close near our resistance level of 5285 (actual high of 5281). 5225 to 5325 was the Gap Area which was skipped on the way down as well as on the way up. This area has been well traded now, and any move out of this range on closing basis basis should be considered to be a reliable move. On the upside, Nifty will face stiff resistance at 5305/5320 zone, above which, fresh rally may be seen towards 200DMA near 5400 level, with a minor hurdle at 5365. On the downside, 5230 and 5170 are the major supports, below which, a trending move will start.

The Nifty option Open Interest charts are given below:

The Bulls added 10 lacs+ open interest at 5000 PE to 5200 PE strike, and covered small amount of 2.5 lacs+ at 5300 PE strike. The Bears covered nearly 6 lacs at 5500 CE strike. Overall, the range as per the Options Charts now stands at 5100 to 5400, with 5300 being a minor resistance and 5200 being a minor support. A move outside the minor levels can lead to the upper or lower end of the range.

For tomorrow, immediate resistance for Nifty Spot comes at 5300/5305 levels and then at 5320/5330 levels. This will be the toughest zone for the Bulls, above which, a rally towards 5400+ is not ruled out. On the downside, support for Nifty Spot comes at 5250 levels. Below this, Nifty Spot will slide towards 5230-5205 and 5170 levels. Overall for tomorrow, consider the intraday trend to be down below 5230 Spot and Up above 5300 Spot. In between them, take both side trades with tight stoplosses.

4 Nov - Nifty Spot resistance at 5300-5325-5365-5405. Support at 5250-5230-5205-5170 - www.niftypower.com

Visit here for Nifty Tips