Open 11540 Low 11383 High 11568 Close 11440
Nifty opened with a gap up of 72 points at 11540 levels and touched a high of 11550 on the first five minute candle.
Nifty traded in a 40 point range throughout the morning session 11568-11528. Nifty could not cross day high levels of 11568 and fell 182 points from day high levels to touch a day low level of 11383 at around 2.25 pm.
Nifty closed the day at 11440 down 23 points or .21 percent.
Nifty may have made a short term top at 11800 which may not be broken for some weeks now. It looks like Nifty may consolidate between 11200 – 11800 levels. A big move will come only when this range is broken
Market Breadth Nifty
Advances 16 Declines 34 Unchanged 0
The highest gainer among Nifty 50 index was HCL Tech up 10.6 percent and biggest loser was Bharti Airtel down 3.77 percent.
FNO Data Analysis
Nifty Sep Futures are trading at a discount of 7 points.
For Sep 10 expiry
Highest open interest Call side is at 11500 ce around 26.98 lakh shares
Highest open interest Put side is at 11400 pe around 22.38 lakh shares
Huge amount of call writing at 11550 ce means 11550 will act as strong resistance level for Nifty