Open 10493 High 10598 Low 10485 Close 10551
Nifty opened with a gap up of 63 points at 10493 levels and touched a low of 10485 on the first 5 minute candle which also turned out to be the lowest point of the day.
Nifty trended upwards throughout the day with small pullbacks in between. Nifty rallied 115 points from day low levels to touch a day high level of 10598 at around 2 pm.
Nifty closed the day at 10551 up 130 points or 1.17 percent
Nifty seems to have given a bullish breakout above 10500 levels. 10300 will act as crucial support level whereas 10700 will act as stiff resistance level. A breakout above 10750 levels can lead to a rally towards 11100 levels.
Market Breadth Nifty
Advances 36 Declines 14
The highest gainer among Nifty 50 index was M&M up 6.42 percent and biggest loser was Axis Bank down 1.95 percent.
FNO Data Analysis
Nifty July Futures are trading at a premium of .20 points.
For July 9 expiry
Highest open interest Call side is at 10600 ce around 16.47 lakh shares
Highest open interest Put side is at 10000 pe around 16.08 lakh shares
Huge amount of put writing at 10400 pe means 10400 will act as strong support level for Nifty