Nifty index closed at 5050.15 with the gain of 340.10 or 7.22%. The Nifty Sept future finally settles at with a gain 369.75 pts or 7.84% above at 5080.70 and increased 69500 shares in the open interest. The Nifty future turned to the premium of 30.55 from 0.90 where as cost of carry is 8.20% vs.329.83%. Nifty future has closed at 5080.70 and now next logical resistance is at 5250 and 5450 levels, and good support near 4800 and 4600 levels.

Bank Nifty index closed at 9172.75 with the gain of 684.15 pts or 8.05%. The Bank Nifty Aug future finally settles at gain of 722.85 pts or 8.52% above at 9207.60 and decreased 323600 shares in the open interest. The Bank Nifty future came to a premium of 34.85 from discount of 3.85 earlier, whereas cost of carry is 15.92 vs -132.83 Bank Nifty futures has closed at 9207.60 and now next logical resistance is at 9325 and 9610 levels, and good support near 8825 and 8470 levels.

On the call options front addition of open interest was witnessed in the last trading week at strike price of 5000 and 5100.

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

OI Chart Analysis: In coming sessions market may trade in a range of 4700-5300. The call option strike price with the maximum number of open interest i.e. 5100 will act as major resistance level where as the put option strike price with the maximum number of open interest i.e. 4700 will act as major support level.