Monday, March 5, 2012

EOD Analysis For 5th March 2012 and Outlook For 6th March 2012

OI in Nifty futures still hovering around the 28 million mark; VIX spooked up to 29 odd levels and broader markets saw more downside compared to index components;

Critical Levels and outlook remain unchanged from previous post;

Nifty needs to take out 5408-5440-5480 with volume [at least 3% to 5% more volumes on upside] and the hopes of rewitnessing 5608-5655 levels in March series are still intact as long as 5177-5196 [5200 rounded] on closing basis hold out; [today marked the 37th consecutive close above 5177-5196 band/38th if one counts the weekend session]

Below 5032 on closing basis will become complete bear's feast and the odds of the entire rally from 4531 getting reversed are very high;

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