NIFTY TECHNICAL LEVEL AND DERIVATIVE STRATEGY

NIFTY BULLISH BREAKOUT ZONE 24300 NIFTY BEARISH BREAKOUT ZONE 24050 OPEN INTEREST UPDATES IN OPTION MARKET IN INTRADAY HIGHER OPEN INTEREST SEEN @ 24400 CALL & 23900 PUT LEVEL. ON THE BASIS OF DATA ANALYSIS MARKET LOOKS RANGE BOUND FOR THIS WEEK NIFTY MAY TRADE 23900 TO 24400 LEVEL. FII LONG RATIO IN INDEX DERIVATIVE IS 10.81% INDICATES FII IS STILL BEARISH ON INDIAN MARKET FURTHER IMPROVEMENT IN RATIO MAY GIVE BUYING OPPORTUNITY TO INDEX TRADER. DURING MORNING SESSION WAIT & WATCH STRATEGY WILL BE USEFUL AND STOCK SPECIFIC APPROACH MAY BENEFICIAL RATHER INDEX BASED STRATEGY. DUE TO SENSEX EXPIRY WE MAY SEE SLIGHT VOLATILITY IN SECOND HALF. DEFENSE SECTOR, PRIVATE BANKING SECTOR , PORT SECTOR ARE LOOKING GOOD FOR MEDIUM TERM.