iCharts Discussions

[marthandan]

Nifty could not sustain above 2800 (touched 2836 and came down) and closed at 2795.
Resistances are 2800,2824,2840,2850,2874,2887,2890.
supports are 2786,2776,2752,2739,2714,2705,2689,2660.
Open interest and volumes are higher in the 2800 strike call option than in the put option of the same strike.But open interest in 2700,2600 and 2500 strike puts are high.This may imply that market may go below.

[marthandan]

Nifty after 7 days rally that too in a bear market, hovered near 2800 .
It could not pass above 2836 and closed at 2808.
So we can fore see a volatile week from 23-03-2009 which is also closing week for March contracts.
Nifty will have to show strength in going above 2820 and last week high . Nifty may go above 2875 and 2900 where it will again face selling pressure.
Resistances are2816,2836,2849,2875,2897,2920,2950.
Supports are 2795,2750,2734,2715,2680,2660,2620.