The Nifty closed at 6011.70 gaining nearly a percent. The Nifty Futures prices ended at premium of 17.35 points vs. 18.20 points. On the open interest front the Nifty Futures saw addition of open interest by 3.22%. The Nifty Futures prices rose along with addition of open interest but slight decline in the cost of carry, this is an indication of some shorting being leaping in at higher levels. On the options front the open interest PCR and the volume PCR have shown a surge, this is an indication that some put buying has been witnessed as a protection against downside.

Nifty future has strong resistance at 6060 and traded in a narrow range, and closed near to its resistance level. If nifty future sustain above 6060 level we can see some more up move to 6150 levels. One should take long position above 6060 level. Resistance for nifty future 6060/6150 and support is at 5925/5875.

Resistance: It has first resistance close to the level of 6060 & after it may face the next resistance close to the level of 6150.

Support: It has first support close to the level of 5925 & after it may get the next support close to the level of 5875.

Bank nifty future traded in a narrow range and consolidated but overall trend is bullish. Bank nifty future closed near to its days high. If it manages to sustain above 12670 level it can take some more up move from here. Resistance for bank nifty is at 12670/12850 and support is at the level of 12300/12185.

Resistance levels: It has first resistance close to the level of 12245 & after it may face the next resistance close to the level of 12670.

Support: it has first support close to the level of 12185 & after it may get the next support close to the level of 12100.

On the call options front we have seen addition of open interest at strike price of 6100 and 6200. On the put options front we have seen addition of open interest at strike price of 6000, 5900 and 5800. OI Chart Analysis: From the OI Chart we can see that in December Series addition of open interest on the calls front is seen at strike price of 6100-6200 indicating it as Resistance zone on the upside whereas on the put options front we have seen addition of open interest at strike price of 5900-5800 indicating it as good support zone on the down side for the coming days.

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