Hi Traders,
Today Nifty opened gap up and moved up to 5325 level.could not sustain and moved back to 5300 level and hovered there sometime. Made another dash to 5325 level but slided back again to 5300 . in the afternoon session broke 5300 and fallen to 5260 level. By the close recovered and ended around 5285 level.
In the past few sessions, Nifty closed in the 5260 - 5280 range. During this week,Bears could not take Nifty below 5200 level and bulls could not keep Nifty above 5300 level.Currently the G20 meet is in progress and will know the outcome over the weekend. .Also, on political front in India, there is a news that Madam Mamta from Calcutta is not happy with the petro price hike decision and will take up the issue of support to the government with prime minister after he comes back to India.
Monday, 07th is trading holiday. Nifty will open on Tuesday, 08th. 10th,Thursday, also being a holiday,next week will be 3 session week.will Nifty hold 5200 or cross 5350?.Fingers crossed.
Enjoy the long weekend.
here is Nifty Option Chain of 04th Nov 11(Fri).
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