Markets extended friday's gains and advanced over 2% today led by buying in IT shares ahead of the Infosys results which will kick start the earnings season on Wednesday this week. The Nifty closed at 4,979.60, up 91.55 points and the Sensex ended at 16,557.23, up 324.69 points. Nifty Futures shut stop at 5000 up by 101.40 points or 2.07 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5070 else below support level of 4870 it would be in a downward trend.

On the call options front addition of open interest was witnessed in last trading session at strike price of 5000 and 5200.

On the put options front we have seen addition of open interest in last trading session at strike price of 4700 and 4800.

OI Chart Analysis: From the OI Chart we can see the strike price witnessed highest addition of open interest in the August Series. In coming sessions market may trade in a range of 4700-5200. On the call option front strike price with the highest open interest i.e 5000 and 5200 may act as resistance on the up side whereas on the put option front strike price with the highest open interest i.e 4700 and 4800 may act as a support on the downside.