Nifty future had a sharp fall in last trading session and closed on a negative note. It can take some more correction in coming trading sessions. One should adopt a strategy of sell at higher level until it sustain above 6200 level . Support for nifty future is at 6068/6041 and Resistance is at 6150/6182 level. The Nifty Index in last trading session declined more than a percent and ended at 6079.80. On the derivatives front we have seen that the Nifty Futures prices have declined along with nominal shredding of open interest but rise in the cost of carry, this is an indication of long closure at higher levels. On the options front we have seen that the OI PCR has declined to 1.31 vs. 1.37 mainly on account of shredding of open interest on the puts front. On the volatility front we have seen that the Indian Volatility Index (VIX) has shown rise of nearly 5% indicating uncertainty at higher levels.

RESISTANCE: It has first resistance close to the level of 6150 & above this level the next resistance is seen near the 6182 mark.

SUPPORT: It has first support close to the level of 6068 & below this level the next support is seen near 6014 mark.

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.

In January Series maximum addition of open interest on the calls front is existent at strike price of 6200-6300 indicating it as immediate resistance zone on the upside whereas on the put options front we have seen addition of open interest at strike price of 6000 indicating it as strong support on the downside.