Nifty Updates
Nifty index closed 4754.10 with the gain of 129.80 or 2.80%. The Nifty Sept future finally settles at with a gain 137.55 pts or 2.96% above at 4771.95 and decreased 3472050 shares in the open interest. The Nifty future turned to the premium of 17.85 from 10.10 where as cost of carry is 9.52% vs.22.85%. Nifty future has closed at 4720.60 and now next logical resistance is at 4850 and 4920 levels, and good support near 4500 and 4340 levels.
Bank Nifty Updates
Bank Nifty index closed at 8488.25 with the gain of 519.60 pts or 6.52%. The Bank Nifty Aug future finally settles at gain of 544.35 pts or 6.85% above at 8488.65 and decreased 480100 shares in the open interest. The Bank Nifty future came to a premium of 0.40 from discount of 24.35 earlier, whereas cost of carry is 755.83 vs -16.08. Bank Nifty futures has closed at 8488.65 and now next logical resistance is at 8700 and 9000 levels, and good support near 7880 and 7499 levels.
Options Updates
On the call options front addition of open interest was witnessed in the last trading week at strike price of 4900 and 5000. On the put options front we have seen addition of open interest in the last trading week at strike price of 4500 and 4600.
OI Chart Analysis: In coming sessions market may trade in a range of 4500-5000. The call option strike price with the maximum number of open interest i.e. 5000 will act as major resistance level where as the put option strike price with the maximum number of open interest i.e. 4500 will act as major support level.
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