Nifty

On Monday Nifty moved below 200 DMA. Bears are eying 50 DMA (10578) which may provide some support.
OI Table: Till 02.00 PM on Monday bulls tried to protect the level of 10700 but then bears took charge and broke down this level. In fact bears were covering shorts. Highest OI position remains 11000 Call -- total 5,799,30 (-76,125) shares as the steep resistance and support is 10000 Put OI at total 5,576,475 (+725,925) shares (so eventually 10100 --10150 may come by). Bears are increasing their positions at 10900 and 10800 (3,138,750 shares) Call strikes.
Since on hourly charts indicators are in Oversold, the level of 10700 is to be watched carefully till expiry day. Bears have written 2,266,050 shares at 10700 Call with the increment of 1,241,625 shares whereas Bulls have written 2,905,350 shares, an increment of 98,475. So some pull back due to short covering may be seen with a negative bias during next two trading sessions.
Chart PatternsTechnical IndicatorsTrend Analysis

Feragatname