Hello,
Another day of measured trading with Nifty trading in a very small band. While we opened weak in line with US & Asian Markets, the weakness did not last long and market bounced back from the lower levels to a small positive where it traded nearly all day long. As long as either 5410 or 5335 is broken, we can be witness to lackluster moves in Nifty with a build up happening for a strong move on either side.
Nifty has maximum Open Interest in 5300 PE and 5500 CE which can be the range till the end of the series unless unforeseen events force a move out of that zone. Put Call Ratio is at 1.41. For the day Nifty has supports at 5365 - 5335 and resistances at 5410 - 5440.
Regards
Prashanth
Mythri Stocks & Shares Pvt Ltd.,
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