NIFTY TECHNICAL LEVEL AND DERIVATIVE STRATEGY FOR TUESDAY

NIFTY BULLISH BREAKOUT ZONE 24260 NIFTY BEARISH BREAKOUT ZONE 24130 OPEN INTEREST UPDATES IN INTRADAY HIGHER OPEN INTEREST SEEN @ 24300 CALL AND 24200 PUT. ON THE BASIS OF OPTION CHAIN ANALYSIS MARKET LOOKS RANGE BOUND BUT DUE TO MONTHLY EXPIRY MARKET MAY SEE VOLATILITIES IN SECOND HALF. ON THE BASIS FOREIGN INSTITUTIONAL INVESTORS DATA MARKET IN DERIVATIVE MARKET INDICATES MARKET MAY SEE SOME PROFIT BOOKING IN FIRST SESSION. FLAT OPENING MAY GIVE CHANCE TO INTRDAY PLAYERS. INDIAN CURENCY IS TRADING IN RANGE AND IT SECTOR MAY SEE PRESSURE IN INTRADAY.

FOR POSTIONAL INVESTOR NIFTY RESISTANCE IS 24400, 24800 AND SUPPORT LEVEL IS 24050,23900. IN INTRADAY IF NIFTY FALLS BELOW 24130 WILL GIVE GOOD OPPORTUNITY TO SHORT SELLERS.