Open 12102 High 12103 Low 11990 Close 12031
Nifty is facing stiff resistance at 12100 levels !
Nifty opened with a gap up of 4 points at 12102 levels and touched a day high level of 12153 on the first five minute candle.
Nifty faced heavy selling pressure at 12100 levels and fell 113 points from 12103 levels to touch a day low level of 11990 at around 10.40 am. Nifty consolidated between 12000 – 12040 levels for the rest of the day.
Nifty closed the day on a positive note at 12031 down 67 points or 0.55 percent.
Nifty is round bound. 11900-12100 is the small range for Nifty currently. A big move will come only when this range is broken.
Market Breadth Nifty
Advances 10 Declines 40
Highest gainer among Nifty 50 index was UPL up 4.77 percent and and biggest loser was Zee Entertainment down 7.15 percent.
FNO Data Analysis
Nifty February Futures are trading at a premium of 17 points.
For February 12 expiry
Highest open interest Call side is at 12100 ce around 27.57 lakh shares
Highest open interest Put side is at 12000 pe around 21.46 lakh shares
Huge amount of put writing at 12100 ce means 12100 will act as strong resistance level for Nifty.