Options Live Trend
On the call options front addition of open interest was witnessed in last trading session at strike price of 5400 and 5500.
On the put options front we have seen addition of open interest in last trading session at strike price of 5100 and 5200.
OI Chart Analysis: From the OI Chart we can see the strike price witnessed highest addition of open interest in the April Series. In coming sessions market may trade in a range of 5100-5400. On the call option front strike price with the highest open interest i.e. 5400 and 5500 may act as resistance on the up side whereas on the put option front strike price with the highest open interest i.e.5100 and 5200 may act as a support on the downside.
Nifty Future Trend
Nifty Futures shut stop at 5248.45 up 27.35 points or 0.52 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5260 else below support level of 5180 it would be in
a downward trend.
RESISTANCE: It has first resistance close to the level of 5260 & above this level the next resistance is seen near the 5330 mark.
SUPPORT: It has first support close to the level of 5180 & below this level the next support is seen near 5130 mark.
Axis Bank
In today’s trading session, the stock showed upward movement. The stock is trading above its 10 and 50 period moving averages. It now has next resistance level at 1243 and support level at 1130. In upcoming session, it may show upward movement.
HDFC
HDFC is still trading sideways. Today it showed a slight negative biasness having support at the level of
673 which may be crossed in the upcoming session or it may even test the levels and show a diversion.
Resistance is at 684.
Maruti
Today stock has gap down opening and afterwards have a straight up rally and closes with gain of 1.48%. The major trend in stock is bullish so it’s expected that stock will consolidate and crossing of resistance may take the stock further up, now the stock facing resistance at 1355 and support at 1300.
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