June 6, 2014

Market outlook

NIFTY closes at lifetime high and above the 16 MAY election result day.

Trend remains up with SL at 7100.

Option writing points to support at 7000 and resistance at 7500. Note that highest OI is still at 7500 call inspite of a a reduction today. Most likely highest OI will move to 7600 call.

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