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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