After a good show by the Indian stock markets on Monday, Zee Business Managing Editor Anil Singhvi on Tuesday said that 14,800 has emerged as a strong base. The Market Guru said that intraday and closing stop-loss would be 14,800 and on the upper side, 15,000-mark is crucial.  

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

See Zee Business Live TV Streaming Below:

"Weekly series that is to expire on 15,000-level on Thursday, has highest open interest in Calls and the monthly series, which will expire at May end, on the same level also has highest open interest. This is a big level. Interestingly in both expiries, highest open interest is at the same level. If the market manages to breach this level and closes at 15,050, not only weekly short covering will come, but monthly expiry call writers will also begin short covering. Short covering can come both ways as this a big psychological level," said Zee Business Managing Editor.

He said since there is highest open interest on 15,000 calls on both monthly and weekly expiry, short covering will very much likely take Nifty to 15,200 first and 15,400 later.  
 

"if Nifty closes above 15, 050 or even 14,900, the trend will be on upper side," added Anil Singhvi.