Risky Traders can write 5000 put when nifty trades near 5100 levels; (premium should be more than 100 points). With this in mind the market expectation will be that – nifty will find support at 4900 -5000 range.
Nifty Future: Weekly levels
Supports – 5300 / 5215 / 5160 / 5130 / 5075
Resistances - 5380 / 5415
Bank Nifty Future: Weekly levels
Supports – 10440 / 10360 / 10250
Resistances – 10650 / 10720
Rajesh V. Ravanappan is a practitioner of technical analysis. He has eight years of experience in the share broking industry. He is a contributing writer for www.goodreturns.in. You can contact him at rajeshvravanappan (at) gmail (dot) com
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