In Indian market Nifty future closed at 5434.15, up by 54.05 points with 1% hike. Tomorrow nifty looking bullish if it manage level of reisistance 5450, otherwise it would be bearish from the support level of 5350.

Nifty Resistance Tomorrow - 5450 & 5505

Nifty Support Tomorrow - 5350 & 5300

The Nifty Index in last trading session ended at 5413.85 with gains of nearly one percent. On the derivatives front we have seen that the Nifty Futures prices surged along with an overall addition of open interest and increase in the cost of carry, this is an indication of some longs being built at lower levels. On the options front the OI PCR has ended at 1.19 vs. 1.13 whereas the Volume PCR has ended at 1.13 vs. 0.99. On the Volatility Front the Indian Volatility Index has ended at 22.26% vs. 25.21% losing 11.70% indicating some ease off in the markets.

On the call options front addition of open interest was witnessed in last trading session at strike price of 5700, 5400, 5500, 5600 and 5800.

On the put options front we have seen addition of open interest in last trading session at strike price of 5100, 5400 and 5200.

OI Chart Analysis: From the OI Chart we can see that in Apr. Series addition of open interest on the calls front is existent in the band at strike price of 5500-5700 indicating it as resistance on the upside whereas on the put options front we can see that addition of open interest is existent at strike price of 5400-5300 indicating it as immediate support zone on the downside.