Nifty Analysis : 30 May 2019

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Hello Friends,

Nifty opened around same level where it closed yesterday.
Bulls took charge and pushed nifty to intraday high of 11967 but unable to continue further.
May F&O expiry series closed positive at 11945

As mentioned in previous analysis, nifty is trading in range of past 3 days which is highlighted in below chart



On the daily time frame, 5 Day Moving average continues to provide support for nifty.


Options data for 6 June Weekly Expiry series has highest OI at 11800 Put strike with 1,151,925 contracts and 12000 Call strike with 1,272,150 contracts.
Hence support at 11800 and resistance at 12000 levels becomes range for the next week for nifty.

For coming trading sessions, Nifty may remain range bound to negative.

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Disclaimer: I am not SEBI Registered analyst. All above analysis are just for study purpose.
I am not responsible for any gain or loss arising out of trades taken based on the study shared above.
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