Nifty future was volatile in last trading session and was not able to sustain at higher level. If it breaks 5700 level then it may take more sharp fall. One should take position after proper break out in it. Support for Nifty Future is at 5700/5670 and Resistance is at 5885/5925 levels. The Nifty Index in last trading session witnessed sharp sell-off. It ended with losses of nearly 2% at 5751.90. On the derivatives front we have seen that the Nifty Futures prices declined along with an overall addition of open interest and decline in the cost of carry, this is an indication of shorts being built at higher levels. On the options front the OI PCR and the Volume PCR both witnessed decline. On the volatility front the Indian Volatility Index (VIX) has surged by 8.13% indicating high degree of uncertainty.

RESISTANCE: It has first resistance close to the level of 5885 & above this level the next resistance is seen near the 5925 mark.

SUPPORT: It has first support close to the level of 5700 & below this level the next support is seen near 5670 mark.

On the call options front we have seen addition of open interest at strike price of 5900 and 5800 whereas shredding of open interest was witnessed at strike price of 6200 and 6300. On the put options front we have seen addition of open interest at strike price of 5700 and 5600 whereas shredding of open interest was witnessed at strike price of 5800 and 590.

In January Series addition of open interest on the calls front is existent at strike price of 5900-6000 indicating it as resistance on the upside whereas on the put options front we can see that still maximum open interest is accumulated around strike price of 5600-5700 indicating it as immediate support zone on the downside.