Monday, June 4, 2012

EOD Analysis For 4th June 2012 and Outlook For 5th June 2012

OI in Nifty futures still hovering around the 17 million mark and VIX pretty high at 28 levels

Critical levels and outlook remain unchanged for both Nifty and BankNifty; with a 35th close below the 5032-5092 band, safe to assume that this is the upside for June series on closing basis. On downside, remains to be seen how far we go but one may expect consolidation at current price levels for 2 weeks before starting any meaningful upside march from 20th June in all likelihood.

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