Nifty Likely to Surprise Again?

Nifty50 is trying to hold above 9600 levels from last 3 days, GDP numbers were surprising for all bulls.

As I am trying to read all data from expiry, whole last week of May-17 expiry was full of negative news and FIIs were seller at every level. Than after Nifty had given strong expiry closed at 9500.

FIIs had sold out around 30 Lacs Nifty50 Future in last 3 days and currently options side, around 59 Lacs OI in 9500-PE option and after that highest OI 60 Lacs at 9400-PE. And call sied highest OI 45.43 Lacs in 9700-CE and 41.79 Lacs in 9600-CE. So data is very clear and indicating that, this is a fight between bulls and bears. So market may take some time and clear the trend on events. As per me currently Level-1 9550 and Level-2 9450 are most important for market for up move. FOR June is a long month for expiry; all companies had provided their results so no negative balance on results, monsoon likely to normal as per estimates.

So, I believe, Nifty50 likely to surprise again all of us and likely to touch 10000 by this month. But, this is my personal view only. Hope for the Best with finger crossed.

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