Markets extended friday's gains and advanced over 2% today led by buying in IT shares ahead of the Infosys results which will kick start the earnings season on Wednesday this week. The Nifty closed at 4,979.60, up 91.55 points and the Sensex ended at 16,557.23, up 324.69 points. Nifty Futures shut stop at 5000 up by 101.40 points or 2.07 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5070 else below support level of 4870 it would be in a downward trend.

On the call options front addition of open interest was witnessed in last trading session at strike price of 5000 and 5200.

On the put options front we have seen addition of open interest in last trading session at strike price of 4700 and 4800.

OI Chart Analysis: From the OI Chart we can see the strike price witnessed highest addition of open interest in the August Series. In coming sessions market may trade in a range of 4700-5200. On the call option front strike price with the highest open interest i.e 5000 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 4700 and 4800 may act as a support on the downside.

At - 367.15

Tgt - 370.00, 375.10

Sl - 364.00

The stock tried to rebound in today's trading session after testing its support at 345. It is now facing a resistance at 370 if it consolidates for a while then a short term recovery could be expected in the stock.

R - 370

s - 345

At - 411.45

Tgt - 407.00, 403.15

Sl - 416.00

The stock had an up rally in today's trading session. It now faces major resistance at 416, crossing of this level may take the stock further upwards else it may also resist at higher levels and show some correction in near term.

R - 416

S - 402

Today BSE Sensex closed at 16557, up by 325 points, the index touched a high and a low of 16,589.29 and 16,230.77 respectively. While Nifty Index shut up at 4980 up by 92 points, the index touched high and low of 4,991.15 and 4,882.05 respectively.

Nifty October 2011 futures closed at 5,000.00 at a premium of 20.40 points over spot closing of 4,979.60, while Nifty November 2011 futures were at 5,014.00 at a premium of 34.40 points over spot closing. The near month October 2011 derivatives contract expires on Thursday, October 25, 2011. Nifty October futures saw addition of 9.16% or 1.89 million (mn) units, taking the total outstanding open interest (OI) to 22.56 mn units.

Among Nifty calls, 5000 SP from the October month expiry was the most active call with contraction of 0.29 million. Among Nifty puts, 4900 SP from the October month expiry was the most active put with addition of 1.49 million. The maximum Call OI outstanding for Calls was at 5000 SP (4.16 mn) and that for Puts was at 4900 SP (5.05 mn).

Nifty index closed at 4888.05 with the loss of 55.20 or -1.12 %. The Nifty Sept future finally settles at with a loss 35.70 pts or -0.72% above at 4898.60 and increased 1028550 shares in the open interest. The Nifty future turned to the premium of 10.55 from 8.95 where as cost of carry is 15.26 vs.-24.16. Nifty future has closed at 4898.60 and now next logical resistance is at 5170 and 5250 levels, and good support near 4725 and 4600 levels.

Bank Nifty index closed at 9038.25 with the loss 430.05 pts or -4.54%. The Bank Nifty Aug future finally settles at loss of 379.60 pts or -4.03% below at 9043.00 and increased 132175 shares in the open interest. The Bank Nifty future came to a premium of 4.75 from discount of 45.70 earlier, whereas cost of carry is 62.59 vs.-9.03. Bank Nifty future has closed at 9043.00 and now next logical resistance is at 9350 and 9700 levels, and good support near 8600 and 8400 levels.

The BSE Index shut up today at 16233 up by 440 points, the index touched a high and a low of 16,347.48 and 16,148.97 respectively. While NSE index closed at 4922 up by 137 points, the index touched high and low of 4,922.60 and 4,861.20 respectively.

Nifty October 2011 futures closed at 4,893.90 at a premium of 5.85 points over spot closing of 4,888.05, while Nifty November 2011 futures were at 4,908.00 at a premium of 19.95 points over spot closing. The near month October 2011 derivatives contract expires on Thursday, October 25, 2011. Nifty October futures saw addition of 13.70% or 2.76 million (mn) units, taking the total outstanding open interest (OI) to 22.91 mn units.

Among Nifty calls, 5000 SP from the October month expiry was the most active call with an addition of 0.08 million or 1.92%. Among Nifty puts, 4800 SP from the October month expiry was the most active put with addition of 0.77 million or 12.04%. The maximum Call OI outstanding for Calls was at 5000 SP (4.50 mn) and that for Puts was at 4800 SP (7.21 mn).