The Nifty future shut shop at 5037.15 losing 50.45 points or 0.99 percent. Nifty future decreased 177250 shares in open interest, and came to premium of 5.12 from 11.90 whereas cost of carry is 21.05 vs 10.54, up 99.71 percent. On the options front the OI PCR is 1.52 vs 1.09, whereas the Volume PCR at 1.15 vs.

1.06. On the Volatility Front the Indian Volatility Index has ended at 28.45% vs. 30.79% losing 7.60%

resistance -

support -

The stock is currently facing a consolidation phase. One should wait for sometime in the stock as it is expected to continue its consolidation for a while. It has resistance at 1650, crossing of this level will take the stock further upwards.

R - 1650

S - 1565

The stock is consolidating currently, its next resistance is at 300, and crossing of this level may take the stock further upwards else it may also reverse from higher resistance levels.

R - 300

S - 285