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Options Updates
On the call options front addition of open interest was witnessed in last trading session at strike price of 4900 and 5000. On the put options front we have seen addition of open interest in last trading session at strike price of 4500 and 4600.

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 4600-4900. On the call option front strike price with the highest open interest i.e. 4900 and 5000 may act as resistance on the up side whereas on the put option front strike price with the highest open interest i.e. 4500 and 4600 may act as a support on the downside.

Nifty Updates
Yesterday, Benchmark share indices gained over 2% on Tuesday to end at 1-month highs, on the back of positive cues from Asia and Europe, led by index heavyweight Reliance Industries and financial shares. The markets strengthened further post Moody's upgraded India's rating to investment grade. The 30-share Sensex ended at 16,165.09 up 350.37 points or 2.22 % and the 50-share Nifty ended at 4,849.55 up 106.75 points or 2.25 %. The Sensex and the Nifty reached an intra-day high of 16,180.97 levels and 4,855.90 mark, respectively. The Sensex hit 16,100 marks, its highest level since December 14, 2011.
Resistance: 4780 - 4850
Support: 4680 - 4590

Nifty Futures shut stop at 4870.30 down by 118.50 points or 2.49 %. It is likely to be bullish in today's trading session if it manages to trade above the resistance level of 4780 else below the support level of 4680 it would be in a downward trend.

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