Nifty Analysis : 4 June 2019

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Hello Friends,

After yesterday's strong bullish candle, today nifty opened negative at 12050.
During the day it touched high of 12095 but faced selling pressure at resistance levels as mentioned in yesterday's analysis.
Nifty remained range bound between 12100 to 12000 levels & closed at 12021.
This has formed doji candlestick pattern on daily chart.


https://tvc-invdn-com.akamaized.net/data/tvc_a163ebf3b122c1706ecf6552302ca98f.png

6 June expiry Option chain shows 12000 - 11900 as support levels & 12100 - 12200 as resistance levels as there is maximum open interest at these levels.
Nifty sustaining above 12100 - 12150 will attract bulls for further up-move.

Tomorrow, 5th June is holiday for Indian Market, followed by RBI Policy outcome on 6th June.
Weekly option expiry is also on the same day that is 6th June.

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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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Location: India

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