Friday, May 25, 2012

EOD Analysis For 25th May 2012 and Outlook For 28th May 2012

OI in Nifty futures hovering around the 24 million mark and VIX coming closer to measure price action

Critical levels and outlook remain unchanged and in all likelihood, the range for the pending 4 sessions to expiry is likely to be around 4800 and 5032 levels on spot unless something significant comes up

As mentioned earlier, the upside on closing basis for the remainder of May is likely to be restricted to 5032 levels i.e. after completing 21 consecutive sessions below this band [14 down now and 7 to go] So the odds of going above the 5032-5092 band and challenging the congestion zone of 5125-5150-5169-5177-5196 comes to the 2nd trading session of June series IMHO

[As usual my levels are much broader whilst finer levels are covered by Guruji......enjoy the weekend and I will be back next Monday EOD [hopefully depending on my travel schedule]

No comments: