Thursday, May 31, 2012

EOD Analysis for 31st May 2012 and Outlook For 1st June 2012

OI in Nifty futures actually dropped a couple of million on expiry day compared to yesterday.

Critical levels and outlook remain unchanged for both Nifty and BankNifty from previous levels. Monday EOD will be crucial to determine the potential range for the next 2 weeks on Nifty i.e. we need to see whether Nifty closes above the 5032 level on Monday or not....

The problem is that rallies even of minor levels are being sold into and hence bulls are so close yet so far.....

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