Nifty Analysis
The Nifty 50 Index traded on a positive note during the week. On Monday, it opened the session down, but witnessed solid buying interest to end the session 133 points up. Subsequently, the positive momentum continued for the next trading session. But the index slipped 63 points down on the futures and options (F&O) expiry day. The index finally ended the weekly session 1.23% up. Last week, we saw the index closing below its 200 day moving average (DMA), which acted as a good support in the past. But now the 200 DMA is acting as a good resistance (previous support act as a resistance post the break-out) This week, the 10,000-10,100 zone which acted as a good support in the past saved the index from dropping further down. Nifty Options Analysis : Support : 10000 Resistance : 11000 MAX OI Contracts : 11000 CE - 34 Lakhs OI Contracts & 10000 PE - 32 Lakhs OI Contracts Sentimental Indicators: INDIA VIX = 15.75 TRIN : 0.95 NIFTY OI PCR : 1