WISHING ALL A VERY HAPPYDEEPAWALI

Markets have stayed above 5100 for the 3rd day in a row..Seems Bears are unable to bring it below 5100 levels for the time being and we may be in to test higher levels in mahurat trading and coming days..Enough said /written /talked on markets ..lets close this SAMVAT on a positive note..once again wishing all a very happy prosperous DEEPAWALI..enjoy the festival with family & friends.

WHAT NEXT ?????

Let us today look at the technical side of the markets..Last few days NF OI gets added during the course of the trading day to be sold or profit booked at EOD..( meaning traders not ready to carry overnight longs)The 4900 levels has the highest strike price of OI in options in 4900 puts..( traders seem to have booked profits in 4700 mainly and also 4800 puts shorts in the last few days )..this means market unlikely to break 4900 levels in a hurry in this series. 5100-5300 calls have increased their OI , meaning that max. this rally can touch 5300 , Action is on at 5100 strike price now..so maybe below 5100 we retest 5000 & above 5100 go towards 5200..Trade this range for the time being before global cues/events/profits etc etc catch up with this rally of 7 months..hope this helps and clears doubts of many who have been enquiring from me of the trade ahead..enjoy the day cheers..