Nifty Sensex Final Analysis For week starting 26 July 2010 and upto july expiry

Nifty Sensex Final Analysis For week starting 26 July 2010 and upto july expiry
First See the nifty Chart

And the sensex graph

As previously given in these columns earlier Nifty is having strong resistance at 5500 level which is becoming a Huge ceiling.Even if nifty touches this level , it is unlikely to cross 5500 on closing basis till expiry .

And 5400 is fast becoming a good support
highest Call open interest is Nifty 5500 strike of nearly 1.25 crores
Nifty 5400 strike is having open interest of 67 laks

Nifty 5400 put is having open interest of 77 lakhs

But on Friday Nifty Calls Shed open interest.Since Still expiry is just 4 days away,We expect a very tight range of nifty in Best Case which is 5400-5500.

And in worst case nifty will get Support at 5350 region

And Sensex Ceiling is 18450 .So just prepare yourself for a range bound market.
Now Some Technical Data

Simple moving Averages

14 day RSI: 65
14 days Williams % R: 88 (summation factor 100)
Average Directional Index ADX: 31
Average True Range: ATR(20 days ) 65