Nifty Overview for the week (30/4/2018–4/5/2018)—
Nifty was trading in a tight range last week except the friday, As we discussed last week 10620 is a major resistance level and from monday to thursday it was struggling to close above, only on friday nifty opened gap up above the resistance and sustained, overall it’s fifth consecutive positive close on a weekly basis.
Overall Nifty managed to gain 1.20% for the last week with the high of 10720, there’s a gap at 10740 which is yet to be filled, a close above 10740/50 may create new all time high.
The calls are being written at 11000 whereas the puts are at 10500, since this is the beginning of the new expiry the range is bit wide and it’ll gets narrow down in coming weeks according to the market movement
The PCR has decreased from 1.62 to 1.52 and the Open Interest of Nifty Futures decreased by 18.48%.
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