[7/10/2010 01:10:00 AM
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Nifty today broken the short term resistance zone of 5350 to 5360 but could not be able to continue the upper rally and got consolidated around the higher levels. It was overall the positive trading session for market. Now in upcoming trading sessions the key resistance zone seems to be around 5395 to 5400. Closing above this resistance zone may further confirm the price hike in market. In the downside closing below 5300 to 5305 may drag it till the lower levels of 5230 to 5235 in near term. We recommend that traders should watch out the 5400 level if it does not break then one may go for sell on rise for the targets of 5230,5200.
- The Nifty closed at 5296.85. Nifty future (July) closed at 5309.45 i.e. at a premium of 12.60 points vs. 6.60 points and shredded -2164100 shares in open interest.
- The Nifty future (Aug.) closed at 5313.05 i.e. at a premium of 16.20 points vs. 10.00 points and added 48900 shares in open interest.
- The cost of carry is at +4.13% vs. +2.09%.
