Options Trend
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 4900.
OI Chart Analysis: From the OI Chart we can see the strike price witnessed highest addition of open interest in the May Series. In coming sessions market may trade in a range of 4800-5200. On the call option front strike price with the highest open interest i.e. 5200 and 5300 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 4900 may act as a support on the downside.
Nifty Trend for the Day
Nifty Futures shut stop at 4853 down by 89.25 points . It is looking bearish in the coming trading session if it below support level of 4800 it would be in a downward trend.
RESISTANCE: It has first resistance close to the level of 5005 & above this level the next resistance is seen near the 5150 mark.
SUPPORT: It has first support close to the level of 4800 & below this level the next support is seen near 4750 mark.
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