Nifty more likely to face selling at our resistance
> Monday Morning SGX Nifty was showing some positive start.
> Our market gapped up because of this reason.
> We have seen that FII's where net buyers on Friday. Using todays gap they must have booked their profits.
> FII EOD data is negative today.
> Also nifty has strong OI support @ 14900. breaking 14900 can make a lot of put option sellers to unwind their positions.
> European and the US are down, Asia has only few index in green.
> Critical price area above, Watch support and resistance on the chart.
> Our market gapped up because of this reason.
> We have seen that FII's where net buyers on Friday. Using todays gap they must have booked their profits.
> FII EOD data is negative today.
> Also nifty has strong OI support @ 14900. breaking 14900 can make a lot of put option sellers to unwind their positions.
> European and the US are down, Asia has only few index in green.
> Critical price area above, Watch support and resistance on the chart.
Comment:
Nifty is likely to open gap down. Market will open below support. Watch for support around 14800
