TECHNICAL ANALYSIS
NIFTY HIGH 6119 LOW 5990 CLOSE 6000 AVG 6045 (LAST 3 DAYS NIFTY MADE 3 COMMON BOTTOM 6050.today first DAY after expiry & ending negative & close below 6050 now 6050 is hurdle for nifty.11 MAY & 30 MAY HIGH WAS 6131 & HIGH OF THIS MONTH IS 6239 & IN PAST FROM 5980 MARKET REBOUND TWO TIME IF WE CONSIDER THIS AS HEAD & SHOULDER THEN MARKET MAY REACH AT 1ST SUPPORT 5875 & THEN WE HAVE TO SEE FII POSITION & OI IS SHORT BUILT UP THEN MAY REACH 5750.CONCLUSION IS GO SHORT TILL 6050 SL 6065 OR MONDAY MARKET START -VE BELOW 5980 EVEN GO SHORT WITH SL 6020
DATA REFRANCE
AS ON 31-05-2013 FII OPEN INTEREST IS 293000 as on 30 may IT WAS 6 LAC IT MEANS LOT OF LONG POSITION OI CUT & AS PER TODAY FRESH 60000 INDEX CONTRACT SHORT ADDED.TODAY DECLINE IS MORE.HIGH BETA COUNTER IS TOO MUCH -VE. SECTOR WISE METAL REALITY & BANK ALL DOWN BY 3%.
NIFTY MONTH TO MONTH SWING IS 6 %
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