Moneycontrol
Feb 26, 2013 09:41 AM IST | Source: Moneycontrol.com

Nifty has strong resistance at 5900-6000: Way2Wealth

Way2Wealth has come out with its derivative report. According to the research firm, on lower side put writing at 5800 levels will act as strong support for Nifty whereas on higher side call writing has been seen at 5900-6000 levels and that will continue to be a stiff resistance for indices in short term.


Way2Wealth has come out with its derivative report. According to the research firm, on lower side put writing at 5800 levels will act as strong support for Nifty whereas on higher side call writing has been seen at 5900-6000 levels and that will continue to be a stiff resistance for indices in short term.


Indian bourses started the weak on flat note but thereafter were quite volatile through out the session. Selling pressure was seen at higher levels that dragged nifty in negative zone but in second half of session selected short covering helped indices to recover all the losses and finally it closed around 5855 levels up by 4 points.


 On back of weak global indices, today domestic markets are expected to open on negative note and will continue to see selling pressure at higher levels. On lower side put writing at 5800 levels will act as strong support for indices whereas on higher side call writing has been seen at 5900 and 6000 levels and that will continue to be a stiff resistance for indices in short term.


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To read the full report click on the attachment

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