As predicted in our last post, the Nifty did find support a shade above 5680. The tipping point continues to be 5697 with immediate support at 5685. Below 5685, it might retrace aal the way till 5665, 5630 continues to be the crucial point.
On the flip side, if it trades above 5697 with good volumes then 5706 will act as the immediate resistance above which 5747 and 5762 will act as intra-day resistances in case of a range bound trading pattern.
Today is the last day of settlement of futures and options of the October series and as per the charts, the series seems to expire without any further significant gain or loss. However, sudden turbulence can not be ruled out and may be employed to hedge future positions for the November series, which will be pretty long as compared to the current series.
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