NIFTY is near 52 week high, but traders looks cautious. OPTION WRITERS
not convinced about future direction of market. NIFTY FUT OI light, NIFTY
OPTIONS OI also light suggesting indecisiveness. I expect NIFTY SPOT will
trade rangebound with volatility next week. Profit booking also expected at
higher levels. NIFTY SPOT will face strong resistance near 5340-70 zone.
Any sustainable up move only above 5410 levels which looks difficult in
current situation. NIFTY SPOT S 5190-5200 levels. Below 5180 levels,
next S 5120-30, 5040-50.
not convinced about future direction of market. NIFTY FUT OI light, NIFTY
OPTIONS OI also light suggesting indecisiveness. I expect NIFTY SPOT will
trade rangebound with volatility next week. Profit booking also expected at
higher levels. NIFTY SPOT will face strong resistance near 5340-70 zone.
Any sustainable up move only above 5410 levels which looks difficult in
current situation. NIFTY SPOT S 5190-5200 levels. Below 5180 levels,
next S 5120-30, 5040-50.
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