The BSE Index closed at 18167, down with 1.47%, the index touched high of 5,479.60 and a low of 5373.65 respectively. While S&P CNX Nifty closed at 5449.65, down with 1.48%, The index touched a high and a low of 18,326.33 and 17,920.55, respectively.

Nifty March 2011 futures closed at 5,463.00 at a premium of 13.35 over spot closing of 5,449.65, while Nifty April 2011 futures were at 5,483.50 at a premium of 33.85 points over spot closing. The near month March 2011 derivatives contract expires on Thursday, March 31, 2011. Nifty March futures saw an addition of 13.96% or 3.07 million (mn) units, taking the total outstanding open interest (OI) to 25.09 mn units.

For Nifty calls, 5500 strike price (SP) from the March series was the most active call with an addition of 0.47 mn or 7.53%. Among Nifty puts, 5400 SP from the March month expiry was the most active put with a contraction of 0.90 mn or 8.38%. The maximum Call OI outstanding was at 5500 SP (6.84) and that for Puts at 5400 SP (9.93). The respective Support and Resistance levels are: Resistance 5,507.11 --Pivot Point 5,440.38--Support 5,382.91. The Nifty Put Call Ratio (PCR) OI wise stood at 1.32 for March-month contracts.