Nifty Daily charts indicates Buy Signal with supports coming around 5700. When looking into the Nifty Open Interest it is observed that huge call writing at 6000CE due to heavy open interest built-up at the start of dec series indicates 6000 will be considered as temporary resistance zone with upward bias. And as of now no put writing is observed on any of the option strike prices.
Rajandran R Follow Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in)
Will Nifty end above 5700 for current – Dec 2012 F&O series?
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