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Market Outlook
The Sensex ended above 17,000 on Tuesday led by ICICI Bank to end January 2012 with a gain of 11.3% the benchmark indexes best ever monthly performance since September 2010 and best January gains in 18 years. This is Sensex second best monthly performance since September 2010 when it had gained 11.7% and best performance in the first month of a calendar year after it had surged 19.4% in January 1994.

Stock Option Tips
On the call options front addition of open interest was witnessed in last trading session at strike price of 5200 and 5300. 
On the put options front we have seen addition of open interest in last trading session at strike price of 4800 and 5000.
OI Chart Analysis: The strike price witnessed highest addition of open interest in the August Series. In today's session market may trade in a range of 5000-5300. On the call option front strike price with the highest open interest i.e. 5100 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. 4800 and 5000 may act as a support on the downside.

Nifty Futures Updates
Nifty Futures shut stop at 5223.35 down by 111.25 points or 2.18 %. It is looking bullish in today's trading session if it manages to trade above the resistance level of 5250 else below support level of 5100 it would be in a downward trend.
RESISTANCE: It has first resistance close to the level of 5250 & above this level the next resistance is seen near the 5360 mark.
SUPPORT: It has first support close to the level of 5100 & below this level the next support is seen near 5030 mark.

Bank Nifty Updates
In banking, CNX Bank Index gained 382.35 point or 4.01 %. Amongst the banking index Axis Bank, ICICI Bank and IndusInd Bank lead the row.   
Bank Nifty Futures shut stop at 9952.45 up by 402.90 points or 4.22 %. It is looking bullish in today's trading session if it manages to trade above the resistance level of 10020 else below support level of 9600 it would be in a downward trend.
RESISTANCE: It has first resistance close to the level of 10020 above this level the next resistance is seen near to the level of 10130.   
SUPPORT: It has first support close to the level of 9600 & below this level the next support is seen near 9460 marks.

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