Nifty for Tomorrow

Markets ended in the red on weak cues from Asian markets as selling continued in banking shares. The Nifty dropped to a low of 4728.30 in late-noon trades and finally ended with losses of -77.35 points or -1.60 % at 4772.15. Nifty Futures shut stop at 4779 down by -78.75 points or -1.62 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 4710 else above resistance level of 4890 it would be in an upward trend.

Options 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.

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The stock had an either side movement this week. Its next support is at 365, if it consolidates for a while breach of this level may take the stock further downwards else it may also bounce from its major support levels.

R - 390

S - 360

Gail India Tomorrow

The stock showed was consolidating during the trading hour and close on negative note. The major trend presently in the stock is weak. The stock is now facing resistance at 435 and has support at 404. As the stock closed with negative biasness a further down movement can be seen in the stock once it breaks its support level.

R - 435

S - 404

HUL

The stock showed a continuous down movement during the trading hour and closed on negative note. The stock is now facing resistance at 336 which is the 50 day moving average of the stock and has support at 320. The trend presently in the stock is weak. As the stock closed with negative biasness a further down movement can be seen in the stock once it breaks its support level. One may go for selling the stock once it breaks its support level.

R - 336

S - 320

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Today in stock market trading was in positive mode, BSE sensex closed at 16698, up by 252 points. While Nifty index closed at 5015 up by 70 points. The index touched a high and a low of 16,756.08 and 16,316.66 respectively. The index touched high and low of 5,034.25 and 4,906.00 respectively.

Nifty September 2011 futures expired at 5,016.40 at a premium of 0.95 points over spot closing of 5,015.45, while Nifty October 2011 futures were at 5,036.00 at a premium of 20.55 points over spot closing.Nifty October futures saw addition of 47.71% or 6.68 million (mn) units, taking the total outstanding open interest (OI) to 20.71 mn units.

Among Nifty puts, 4900 SP from the September month expiry was the most active put with addition of 3.22 million or 45.54%. The maximum Call OI outstanding for Calls was at 5000 SP (3.54 mn) and that for Puts was at 4900 SP (10.30 mn). The respective Support and Resistance levels are: Resistance 5064.46-- Pivot Point 4985.23-- Support 4936.21.

Markets ended with losses after recovering from the day's low in afternoon trades. A recovery in European markets and buying in IT stocks helped the Nifty to recover around 122 points from the day's low of 4758.85. Nifty Futures shut stop at 4844.30 down by 26.40 points or -0.54 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 4880 else below support level of 4750 it would be in a downward trend.

R - 4885, 5075

S - 4750, 4765

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 4800 and 4900.

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 4800-5200. 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 4800 and 4900 may act as a support on the downside.

The stock showed an up move during the trading hour and closed on positive note. The major trend presently in the stock is weak. The stock is now facing resistance at 1520 and has support at 1470. As the stock closed on positive note a further up movement can be seen in the stock once it breaks its resistance level.

R- 1520

S - 1470

INFOSYS had positive rally in beginning of today's trading session and later it came down, closed with moderate gain. The stock now has resistance level at 2550 and support level at 2435. It is expected to consolidate and remain range bound; short term correction may also be seen.

R - 2550

S - 2435

L&T today showed negative side movements and taken support from 1400 levels. The stock may face resistance from the level of 1450 and it has support level at 1400. In short term it is expected to consolidate and remain range bound, also technically it is looking weak below support level.

R - 1450

S - 1400