Open 11487 Low 11535 High 11442 Close 11521
Nifty opened with a gap up of 47 points at 11487 levels and touched a high of 11497 on the first five minute candle.
Nifty trended upwards throughout the day with pullbacks in between. Nifty rallied 48 points from opening levels to touch a day high level of 11535 just before the closing bell.
Nifty closed the day at 11521 up 81 points or .71 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 1 Declines 35 Unchanged 0
The highest gainer among Nifty 50 index was Indus ind Bank up 4.68 percent and biggest loser was Bharti Airtel down 32.18 percent.
FNO Data Analysis
Nifty Sep Futures are trading at a premium of 13 points.
For Sep 17 expiry
Highest open interest Call side is at 11700 ce around 26.21 lakh shares
Highest open interest Put side is at 11000 pe around 25.22 lakh shares
Huge amount of put writing at 11500 pe means 11500 will act as strong support level for Nifty