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Market Outlook
Yesterday, Markets gained for the third straight session on Thursday led by Bharti Airtel on expectation that the telecom major could emerge as one of the major beneficiaries following today’s Supreme Court verdict. The 30-share Sensex ended above the 17,000 mark for the third straight session up 131.27 points at 17,431.85 and the 50-share Nifty ended up 34.20 points to close at 5,269.90.The Supreme Court today cancelled licences given to the telecom firms involved in 2G spectrum allocation scam. 

Options Updates
On the call options front addition of open interest was witnessed in last trading session at strike price of 5300 and 5400.
On the put options front we have seen addition of open interest in last trading session at strike price of 5000 and 5100.
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 5100-5400. On the call option front strike price with the highest open interest i.e. 5300 and 5400 may act as resistance on the up side whereas on the put option front strike price with the highest open interest i.e. 5000 and 5100 may act as a support on the downside.

Nifty Updates
Nifty Futures shut stop at 5274.35 up by 12.20 points or 0.23 %. It is looking bullish in today's session if it manages to trade above the resistance level of 5300 else below support level of 5230 it would be in a downward trend.
Resistance: 5300 - 5360.
Support: 5230 - 5170.

Bank Nifty Updates
In banking, CNX Bank Index gained 42.95 point or 0.43 %. Amongst the banking index Canara Bank, Bank of India and IndusInd Bank lead the row.   
Bank Nifty Futures shut stop at 9967.80 down by -5.05 points or -0.05 %. It is looking bullish in today's session if it manages to trade above the resistance level of 10130 else below support level of 9740 it would be in a downward trend.
Resistance: 10130 - 10320.   
Support: 9740 - 9460.

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