NIFTY TECHNICAL REVIEW - 7 June- 2018

• Previous Day Candles : Long Bullish Candle - Open[ 10603 ] slightly higher than previous close [ 10593.] and closed near its high [ 10684 ]. - Bulls had control at opening as well closin
• Candle Formed Today : Gap up bullish candle with the long upper shadow - closed at previous top resistance @10770.- At opening bulls had control but at closing bears also has some power( refer long upper shadow)

• Nifty closed in positive up  by 83.70 points  closing @10768
• opened gap -up @10722 - unfilled gap support created@10698-10722
• RSI stands @ 58.30 ( previous day rsi 53.92 ) moved bit higher.
• In previous post we expected index, if it goes above 10730 - to move towards 10770 & 10880 levels, 
• Near term resistance can be seen 10770-  zone.
• Near term support can be seen at 10720 evels.
• Lower top formation is there on chart , for a rally to continue to the upside an aggressive breakout move above 10800 levels is required.

Data Points:-

Call

1. Maximum Call Open Interest stands @ 11k. ( 4.1M ) 
2. Followed by 10.8K ( 3.5M ) and 10.7 k ( 3.4M)
3. Maximum Addition in Call OI seen @ 11.1K , 
4. Followed by 10.2 k

Today's data suggesting nifty could face quite good resistance @10700 levels, followed by 10800

PUT

1. Maximum Put Open Interest stands @ 10.6K( 4.04 M)
2. Followed by 10.5K ( 3.5M) and 10.7 k ( 3.4M)
3. Maximum Addition in put OI seen @ 10.7K
4. Followed by 10.8K

Today's data suggesting nifty could face quite good support @10600 levels, followed by 10500.

Combined Analysis

• Above 10770, nifty could move upto 10880.
• Below 10690,  nifty could move upto 10600, 10550.