Will we see Nifty at 11000 in July series ? Nifty Analysis 3.6.2020

Nifty 5 Min Intraday Chart 3.7.2020
Nifty 5 Min Intraday Chart 3.7.2020

Open 10614 High 10631 Low 10562 Close 10607

Nifty opened with a gap up of 64 points at 10614 levels and touched a high of 10627 on the first 5 minute candle.

Nifty traded in a range throughout the day 10630 on the upside and 10565 on the downside.

Nifty closed the day at 10607 up 56 points or 0.53 percent 

Nifty seems to have given a bullish breakout above 10500 levels. 10400 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 32 Declines 18

The highest gainer among Nifty 50 index was Eicher Motors up 4.23 percent and biggest loser was Tata Steel down 1.85 percent. 

FNO Data Analysis

Nifty July Futures are trading at a discount of 39 points.

For July 9 expiry

Highest open interest Call side is at 11000 ce around 26.78 lakh shares

Highest open interest Put side is at 10400 pe around 24.17 lakh shares

Huge amount of call writing at 11000 ce means 10600 will act as strong support level for Nifty

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