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The BSE index settled at 18206 after a recovery & finally closed with green eye(up 1.22%), the index touched a high and a low of 18,216.85 and 17,950.17 respectively. While Nifty index closed at 5481.20 also with up trend, the index touched high of 5,484.95 and a low of 5,401.95, respectively.

Nifty Future Trend
Nifty March 2011 futures closed at 5,503.10 at a premium of 22.85 over spot closing of 5,480.25, while Nifty April 2011 futures were at 5,522.00 at a premium of 41.75 points over spot closing. The near month March 2011 derivatives contract expires on Thursday, March 31, 2011. Nifty March futures saw an addition of 4.53% or 0.99 million (mn) units, taking the total outstanding open interest (OI) to 22.89 mn units.

Nifty Option Trend
For Nifty calls, 5500 strike price (SP) from the March series was the most active call with an contraction of 0.89 mn or 12%. Among Nifty puts, 5400 SP from the March month expiry was the most active put with an addition of 2 mn or 24.87%. The maximum Call OI outstanding was at 5500 SP (6.54) and that for Puts at 5400 SP( 10). The respective Support and Resistance levels are: Resistance 5,509.48 --Pivot Point 5,455.71--Support 5,426.48. The Nifty Put Call Ratio (PCR) OI wise stood at 1.26 for March-month contracts.

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