Nifty, OI resistance

Nifty faces strong resistance of 11800 -- big barrier created by the bears by heavily writing Calls at this level-- highest OI. Bulls are tamed. Bulls are holding position at 11600 Put-- second highest OI position and also 11700 Put -- third highest OI put. Nifty bracing for correction. Today big sell off halted at 15 DMA.

Ministry of Company Affairs has started a big clean up drive to weed out fake companies. This is a drive to find out black money. Fake independent directors-- non-existing directors ----are being hounding out. This though is a great idea and fist time in India, is bound to shake the stock market. More shivering is coming.