A volatile monthly expiry for Nifty – Nifty Analysis 25.6.2020

Nifty 5 Min Intraday Chart 25.6.2020
Nifty 5 Min Intraday Chart 25.6.2020

Open 10235 High 10261 Low 10194 Close 10288

Nifty opened with a gap down of 80 points at 10235 levels and touched a low of 10194 on the first five minute candle which also tuned out to be the lowest point of the day.

As expected Nifty took support at crucial levels of 10200 and rallied 158 points from morning low levels to touch a high of 10356 at around 11.05 am. Nifty faced stiff resistance at 10350 levels and fell 144 points from day high levels to touch a low of 10206 at around 12.50 pm.

Nifty again took support at 10200 levels and rallied 156 points to touch a new day high level of 10261 at around 2.25 pm.

Nifty closed the day at 10288 down 17 points or 0.16 percent 

10200-10300 will act as a crucial support level whereas 10500 will act as a stiff resistance level. A big move will come only below 9800 levels or above 10500 levels. 

Market Breadth Nifty

Advances 16 Declines 34

The highest gainer among Nifty 50 index was ITC up 5.55 percent and biggest loser was Asian Paint down 3.13 percent. 

FNO Data Analysis
Nifty June Futures are trading at a discount of 57 points.

For July 2 expiry

Highest open interest Call side is at 10500 ce around 13.29 lakh shares

Highest open interest Put side is at 10000 pe around 14.11 lakh shares

Huge amount of call writing at 10500 ce means 10500 will act as strong resistance level for Nifty

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