Nifty future closed in flat note after range bound session. One should adopt strategy of sell at higher level until it break the 6100 level. If nifty future break 5955 level we can see some more selling pressure in it. Support for nifty future is at 5955/5875 and resistance is at 6094/6148 levels. The Nifty ended in the red terrain at 5976.55. On the derivatives front the Nifty Futures prices ended at a premium of 32.95 points vs. 9.40 points leading to a surge in the cost of carry along with overall shredding up of open interest, this is an indication that some short covering was witnessed at lower levels. On the options front the OI PCR has declined to 1.21 vs. 1.29 whereas the volume PCR has increased to 1.18 vs. 1.07. The Indian VIX has shown a decline of 0.67% indicating that the volatility eased in the previous trading session.

Resistance: It has first resistance close to the level of 6094 & after it may face the next resistance close to the level of 6148.

Support: It has first support close to the level of 5995 & after it may get the next support close to the level of 5875.

Bank nifty saw a sharp fall last two trading session. If it break 11440 level we can see some more correction in it, support for bank nifty future is at 11668/11440 and resistance is at 11955/12100. One should take position after proper break out on both the sides.

Resistance levels: It has first resistance close to the level of 11995 & after it may face the next resistance close to the level of 12100.

Support: It has first support close to the level of 11668 & after it may get the next support close to the level of 11440.