1) NIFTY ended at 10430 up 128 points or 1.24%
NIFTY broke out the small 3 days range of 100 points and as expected closed higher.
2) 02 JUL Expiry has highest call OI at 10500, and Put OI at 10300 followed by 10000. Max pain shifted from 10300 to 10400 and PCR 1.2 suggesting some corrections (PCR more the 1 means PUTs are more than Calls).
Change in OI indicates huge addition on PUT side (PUTs Sold?) So good support at 10300 to 10000.
3) 9800 acted as the resistance before this upmove will now act as a strong support. It also the long term monthly channel bottom if we consider MAR lows as false breakout. Will post chart later.
4) On the upside 10800 is earlier last year channel support which may act as a resistance now. 10600 is 61.8% Fibonacci retracement for the rise from Mar 20 low.
5) Swing Low still at 9544 and Swing High at 10312/10544
6) Rising wedge pattern still intact
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