Gap up opening,whole day trading within resistance range(5500-5535) and closing near the top of the day today. Nifty intraday charts of today is indicating some selling signals and pivotal stocks are showing also mixed patterns. I mean to say that some stocks are showing clear buying formations and some are showing selling formations also.
Nifty F&O data of today as follows
Put Call Ratio- 1.17
Open Interest Changed Today
Nifty- 5500 CE(31MAR2011)- -163600(-2.65%)
Nifty- 5500 PE(31MAR2011)- +1311650(+22.07%)
Nifty- 5600 CE(31MAR2011)- -251400(-3.7300%)
Nifty- 5600 PE(31MAR2011)- +990100(+59.61%)
Today Closing
Sensex- closed at 18350.74(+144.58 Points & +0.79% )
Nifty- closed at 5522.40(+42.15 Points & +0.77%%)
CNX MIDCAP - closed at 7,747.20(+46.10 Points & +0.60%)
BSE SMALL CAP- closed at 7868.13(+52.71 Points & +0.67%)
Nifty Intra Day Chart of Today:-
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| Just click on chart for its enlarged view |
Immediate Resistances are as follows:-
1- 5500-5535
2- 5540-5580
It seems that global markets have discounted all the bad news of last one month and started to recover and Indian markets are also following suit. Intraday charts of today are showing mixed patterns and Nifty PUT options positions building today are suggesting follow up buying and more consolidations requirements for sustained up moves because next and strong resistance range is just above today trading range.
Nifty has retraced from 5600 earlier and complete consolidations require in the coming sessions between 5500-5580 for sustained rally above 5600. Let clear signals develop and intraday charts show buying patterns then moves above 5600 will get confirmations.
Next move indication range is 5500-5580. Just watch sustaining beyond this range for next moves confirmations.