The Stock Market BSE Index closed at 18780.56, with up trend of 2.34%, the index touched a high and a low of 18,858.30 and 18,480.69, respectively. While Nifty Index closed at 5645.25 also with up trend of 2.24%, the index touched a high of 5,667.10 and a low of 5560.95, respectively.

Nifty March 2011 futures closed at 5,674.00 at a premium of 19.75 over spot closing of 5,654.25, while Nifty April 2011 futures were at 5,697.15 at a premium of 42.90 points over spot closing. The near month March 2011 derivatives contract expires on Thursday, March 31, 2011. Nifty March futures saw an addition of 16.37% or 3.00 million (mn) units, taking the total outstanding open interest (OI) to 21.36 mn units.

For Nifty calls, 5600 strike price (SP) from the March series was the most active call with a contraction of 1.69 mn or 25.85%. Among Nifty puts, 5600 SP from the March month expiry was the most active put with an addition of 4.25 mn or 168.59%. The maximum Call OI outstanding was at 5600 SP (4.67) and that for Puts at 5600 SP (6.78). The respective Support and Resistance levels are: Resistance 5693.91 --Pivot Point 5,627.43--Support 5,587.76. The Nifty Put Call Ratio (PCR) OI wise stood at 1.75 for March-month contracts.