While updating NiftyFuture were trading at 9440 climbing 150 points
Bulls dominating second day
NiftyFuture currently trading at 9440 with discount of 30 points and Bankniftyfuture also trading 50 points discount.
Nifty 9500CE seems open interest at 64 lakh and 9400PE which is open interest at 47 lakh and followed by 9300PE is at 57 lakh.
Seeing the OI and discount in NF, Still short covering is not over!!
Now, NiftyFuture is facing a intraday resistance at 9455-9475.
Once if breaks and manages above 9475…….. We see another round short covering up to 9540-9560
Suppose if consolidate around 9440 and after 2 PM if breaks 9400
Expecting profit booking up to 9360-9300.
So next 3 hrs expecting huge volatility……. Take care!!
Updated : 12.18 PM / 28th May 2020
