Hi Traders,
Today,Nifty Opened slightly weak around 5140 and touched a low of 5120 , pulled back to 5150 levels in the morning session. see sawed between 5130 to 5150 till Europe markets opened at 1.30. All the hell broke loose around 2 clock and it was one way down movement till the close of session.At that time Europe markets were trading lower and US markets futures were in red. Nifty finally closed around 5065 in the End. In the past 3 sessions Nifty has taken out several support levels. As i write this,9.30 p.m, Europe markets have recovered well and US markets are trading marginally negative.
here is Nifty Option Chain of 15th Nov.Notice the build up at 5000 Put .Around 80 lakh.Assuming strong hands are holding a sizeable position, Nifty may find support around the 5000 levels.
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