Nifty future opened gap down but saw a smart recovery in second half session. Nifty future closed on a flat note. If nifty future manages to sustain above 6000 level we can see some more recovery in it. Resistance for nifty future is at 6021/6095 and support is at 5900/5860. One should take position after proper break out in both the side. The Nifty Index ended flat at its 5947.05 mark. On the derivatives front we have seen that the Nifty Futures prices ended flat along with decline in the cost of carry and addition of open interest, this is an indication of some shorts being built in it at higher levels. On the options front we have seen that the OI PCR has registered a nominal decline whereas the Volume PCR has shown rise of 1.07%.

RESISTANCE: It has first resistance close to the level of 6021& after it may face the next resistance close to the level of 6095.

SUPPORT: It has first support close to the level of 5900 & after it may get the next support close to the level of 5860.

Bank nifty future is not sustaining at higher level. In last trading session it continued its consolidation phase. If it manages to sustain below 11180 level, we can see some more down fall in it. One should adopted a strategy of selling at higher level until it break the level of 11700. Support for bank nifty is at 11180/11045 and resistance is at 11445/11700 levels.

RESISTANCE LEVELS: It has first resistance close to the level of 11445 & after it may face the next resistance close to the level of 11700.

SUPPORT: It has first support close to the level of 11180& after it may get the next support close to the level of 11045.

On the call options front we have seen addition of open interest at strike price of 5900 and 6000. On the put options front we have seen addition of open interest at strike price of 5900 and 5800.

OI Chart Analysis: From the OI Chart we can see that in December Series maximum addition of open interest on the calls front is seen at strike price of 6000 indicating it as Resistance on the upside whereas on the put options front addition of open interest is seen at strike price

of 5900-5800 indicating it as the immediate support zone on the downside.