Nifty surges higher to close above its 200-DMA - IIFL

Nifty surged higher and closed above its 200-DMA building on its recent pullback from lows of 5,500 despite negative global cues. The major resistance for Nifty is seen at 5,790 levels (50-DMA) and close above same would reignite buying momentum in the near term. So far, Nifty has been sustaining above the earlier falling gap of 5,450 levels and same levels will now turn into a critical support point on any decline.

Sensex April future which shed 51960cont in open interest has seen unwinding by shorts.

On option front, Sensex Apr 18,800 strike call which shed 5325cont in open interest has seen some unwinding, while put writing was seen at Apr 18,200 strike which added 3885cont in open interest.

Source : Equity Bulls

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