Nifty regains psychological barrier of 5700 levels - IIFL

Last week turned out to be one of the best trading week in past five weeks with Nifty gaining more than 4% and regaining control above the psychological barrier of 5,700 levels. However, current rally is likely to face resistance around 5,800-5,810, which is a 50% retracement of the entire decline from January peak of 6,112 to a low of 5,477. So, caution is advised at current levels.

Sensex April future which shed 25710cont in open interest has seen unwinding by shorts.

On option front, Sensex Apr 19,200 strike call which added 9825cont in open interest has seen some buying, while put writing was seen at Apr 18,400 strike which added 10185cont in open interest.

Source : Equity Bulls

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