Near term support for Nifty is at 5920 - IIFL

Nifty last week broke above the recent trading range of 5,750-5,920. A hanging man candlestick on Friday's session after an extended up move calls for caution. Near term support for Nifty is at 5,920 which may be tested in the coming days, but any dips should be used as buying opportunity. This week we expect consolidation but the momentum in mid caps and small cap stocks is likely to continue.

Sensex July future which shed 7380cont in open interest has seen unwinding.

On option front, BSE100 June 6,100 strike call which shed 3100cont in open interest in has seen buying yesterday trade, while put writing was seen at BSE100 June 5,700 which added 20450cont in open interest.

Source : Equity Bulls

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