- Today VIX close at 57.02 V/s 54.76 (6.93%) High Volatility in coming days
- Nifty May Future Close At 3623.00 With 03 Pts Prem.
· Also OI Dcreased to 37.90 cr Vs. 38.10 in May fut.With decrease of 1.93 lacs -0.51 Vs -2.68 %
· Active calls in May series are 3800-3700-3900 (most active)
· Active puts in May series are 3600-3500-3400 (most active)
SUMMARY FROM THE ABOVE DETAILS.- Maximum target for this rally is 2860 – 2890 – 2930-2958-3005-3082 -3166 – 3200 -3240 – 3312 – 3450 --3500-3590-3680-3700-3790
- Targets Achieved On Closing Basis Pending Tgt Are Unhilighted. (+) Or (-) 20 Pts
- The Rally From 3500 To 3700 Seems Artificial As There Are Many Who Have Been Left Out And Also The Election Result Are In The Coming Week Also Vix Has Closed Above 57 Which Indicates Highly Volatile Session In This Week And Again A Rectangle Has Been Created In The Range Of 3550 – 3720 And The Breakout On Either Side Shall Indicate Further Trend. This Is No Trade Zone And All The Indicators Are Giving Mix Signal So Shorting Is Not Advisable And Play Only On Intra Dip And Short On High Above 3700 As Longs Have Started Booking Profit And Shall Be Made After The Trend Is Clear That Is After The Election Please Do Not Keep Either Side Position Overnight Inspite If You Cannot Sit On Side Play On Intraday. Also Donot Play Looking At Globle Cues In This Week As It Does Not Matter What Ever They Be As The Event Is In India But If There Is Sell Off For Atleast 2-3 Days Only Then It Will Join The Party But Till Then The Main Trend Is Up. Also All The Analyst Have Different Views Some Are Bearish While Some Are Bullish So You Do Not Get Confuse Listening To Them But Just Watch The Activities Throughout The Day And Make Decission Also The Daily Intraband Is Provided So Play Accordingly. According To My View We Can Go Till 3800 Levels Before Election Results If We Stay Above 3500 Levels.
- Breakout And Close Above 3800 Can Rally To 4000 – 4200 Support Seen At 3600 -3550 So Unless This Levels Are Not Breached Buy Intraday Dip And Bk Profit On Rise. No Overnight Position Adviced.
- LEVEL FOR THE DAY
- TECHNICAL OUTLOOK :
- Imp Support 3580, Imp Resistance 3660,
- Likely Trading Range 3550 - 3700,
- Trade on long Above 3630 and Vice versa
- Note :- Please don’t use this levels when gap up or gap down. Also either side band is breached shall show breakout in either direction, and close above / below the intra band shall continue with the same trend for next day and can continue for for BTST OR STBT.
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