Friday, April 12, 2013

NIFTY VIEW - APR 12


Fall of 9th April is completely retraced. Nifty candlestick is also showing "tails" for 2 days indicating buying at lower levels.

Advance decline is however negative. 


Option writing points to resistance at 5700.... next highest open interest is at 5500 put.

Still a day traders market... and not a positional trader's as evidenced by overlapping legs.

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