Nifty was on bull trend yesterday and closed at 5303 .Today the first resistance for nifty is at 5331-34 level.Next resistance at 5362-65 level.Next resistance is at 5408-13 level.Next resistance at 5425-28 level.Next resistance is at 5463-68 level.Next resistance is at 5492-97 level.Next resistance is at 5537-39 level.Next main resistance is at 5554-56 level.Next resistance is at 5595-99 level. Next resistance is at 5637-41 level.Next resistance is at 5652-55 level.Next resistance is at 5679-83 level. On downside first support is at 5273-68 level.Next support at 5245-41 level.Next main support is at 5197-94 level.Next support at 5163-59 level.Next support at 5149-45 level.Next support at 5112-07 level.Next support at 5037-35 level.Next support at 4970-65 level.So today intraday long should be taken better above 5365 level and on down side no long if nifty is below 5240 .The trend has not changed to bull side and unless nifty strongly trades above 5365 level long position are not advised Next major hurdle is at 5408-25 level and for downside Major support for nifty is at 5197-94 level and if this level is broken there will be more weakness in coming days.
Record updated for-.Feb/28/2011-NIFTY FUTURE-CMP(5313.8) is currently in BEAR trend . Yesterday the trend was WEAK BULL In Mar series Nifty future shed 13.39 lakh position in Open Interest and this accounts to -6.20200635438 % of Total Open Interest in Mar series.The Nifty Mar series is trading at 10.25 Rs premium to Underlying . In derivative cumulatively for all series contract Nifty future net shed 4.9 lakh position in open interest and this accounts to -2.14 % of Total Open Interest in all series and cumulatively trading in average premium of 30.68 Rs to Underlying. The open interest is also not increasing with trend so be careful and premium of share is also increasing so sellers be cautious
NIFTY FUTURE-OPTION ANALYSIS
Record updated for-.Feb/28/2011-NIFTY FUTURE-CMP(5313.8) is currently in BEAR trend . Yesterday the trend was WEAK BULL In Mar series Nifty future shed 13.39 lakh position in Open Interest and this accounts to -6.20200635438 % of Total Open Interest in Mar series.The Nifty Mar series is trading at 10.25 Rs premium to Underlying . In derivative cumulatively for all series contract Nifty future net shed 4.9 lakh position in open interest and this accounts to -2.14 % of Total Open Interest in all series and cumulatively trading in average premium of 30.68 Rs to Underlying. The open interest is also not increasing with trend so be careful and premium of share is also increasing so sellers be cautious
NIFTY FUTURE LEVEL-Feb/28/2011
| R3 | R2 | R1 | PIVOT | S1 | S2 | S3 |
| 5429.98 | 5377.28 | 5345.54 | 5297.8 | 5282.06 | 5250.32 | 5197.62 |
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