Both Nifty and Sensex had taken a breather after up move of yesterday. The technicals are supporting the uptrend except the weekly charts. The 5 weekly RSI is around 88 levels suggesting unexpected selling.The nifty has support at around 3590 levels. If it trades below for more than twenty minutes, then Nifty will fill the yesterday’s gap up opening, thereby it may test 3490 levels. On the other hand if it stays above 3678 levels then it can easily break the resistance of 3700 and 3750 levels.
We had seen huge buying interest in sugar stocks and realty stocks, both of these sectors may find lower level support, but later it can move up further.
With the asset price at 3660, implied volatility of a call at 46% and expiry on 28 may 2009, the probability of nifty to move above 4050 would be 19% and to move below 3160 will be only 12.60%
We had seen huge buying interest in sugar stocks and realty stocks, both of these sectors may find lower level support, but later it can move up further.
With the asset price at 3660, implied volatility of a call at 46% and expiry on 28 may 2009, the probability of nifty to move above 4050 would be 19% and to move below 3160 will be only 12.60%
