nifty eod analyse august 23

analyse august 23 , 2010 ....

nifty today choppy movement like tired for climbing too much but not giving up...
end 5543 13 points up & future up 5543 up 13 points maximum 20 points bond

option data 5500 put with huge oi of 92 lacks vs 63 lacks 5500 call clearly indicating "fii" likely to close this expiry above 5500 level unless any disaster occurs.....

technical levels:

nifty for new high 1 st break out 5500 must ....

for staying positive & buying mode 5521 & 5453 must...

nifty is only weak if it breaks above 3 levels with volume until it will buy on dips.

i:e,
monthly chart indicating indecision between buyers & sellers any side break out is possible but upper side limited ...

regards

pearl kumar august 23rd 2010