Options for Today

On the call options front addition of open interest was witnessed in last trading session at strike price of

5400 and 5600.

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 5200-5600. On the call option front strike price with the highest open interest i.e. 5400 and 5600 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 Futures shut stop at 5266.15 up 13.15 points or 0.25 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5310 else below support level of 5220 it would be in a downward trend.

RESISTANCE: It has first resistance close to the level of 5310 & above this level the next resistance is seen near the 5410 mark.

SUPPORT: It has first support close to the level of 5220 & below this level the next support is seen near 5130 mark.

HDFC is highly volatile in nature. Presently trading sideways showing positive biasness. Above the resistance level of 675 it is expected to show an upside turn. Support is at the level of 663. The stock may show either side of the movement in the near term.

IDFC today closes with a moderate gain .The stock now has resistance level at 135 and support level at 130. Above the resistance stock is looking strong. As stock closes below it is 10 periods and 50 periods moving average so both side movement is expected.