Option Updates
In options, on the Put side, 5,500 Put added a whopping 3.29 million shares followed by the 5,600 Put, which added 1.51 million shares. On the Call side, shifting of OI from lower strikes to higher ones (i.e. from 5,400 and 5,500 Call to 5,600 and 5,700 Call) is likely to be seen.
Nifty Bank Nifty Updates
Today, The markets are expected to decline in opening trade on negative Asian cues. Today, Nifty is expected to trade in the range between 5,568 & 5,618 levels in the upper side and 5,500 & 5,468 levels on the lower side.
Bank Nifty is expected to trade in the range of 10,775 - 11,115.
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Options Today
On the call options front addition of open interest was witnessed in last trading session at strike price of 5400 and 5500.
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: The strike price witnessed highest addition of open interest in the August Series. In today's session market may trade in a range of 5200-5500. On the call option front strike price with the highest open interest i.e. 5400 and 5500 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 Today
Nifty Futures settled at 5388.48 up by 33.30 points or 0.62 %. It is expected to be bullish in today's trading session if it manages to trade above the resistance level of 5452 else below the support level of 5332 it would be in a downward trend.
Resistance: 5452 - 5562.
Support: 5332 - 5232.
Bank Nifty Today
Yesterday, CNX Bank Index lost -4.50 point or -0.04 %. Bank of India, Bank of Baroda and Canara Bank were the top gainers amongst the banking index.
Bank Nifty Futures settled at 10341.39 up by 10.80 points or 0.10 %. It is likely to be bullish in today's trading session if it manages to trade above the resistance level of 10532 else below the support level of 10152 it would be in a downward trend.
Resistance: 10532 - 10792.
Support: 10152 - 9900.
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Market Outlook
Yesterday, India's benchmark share indices gained for the fourth straight day, to register their fifth consecutive weekly gain since September 2010, led by heavyweight Reliance Industries and private banking majors. Markets remained range bound for most part of the trading session but recovery in late trades took the Sensex to a high of 17,630.53 before finally ending at 17,604.96 - up 173.11 points. Nifty ended up 55.95 points at 5,325.85.
Nifty Tomorrow
Nifty Futures shut stop at 5345.55 up by 71.20 points or 1.35 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5360 else below support level of 5260 it would be in a downward trend.
Resistance: 5360 - 5410.
Support: 5260 - 5170.
Bank Nifty Tomorrow
In banking, CNX Bank Index gained 141.60 point or 1.42 %. Amongst the banking index IDBI Bank, HDFC Bank and State Bank of India lead the row.
Bank Nifty Futures shut stop at 10154.85 up by 187.05 points or 1.88 %. It is expected to be bullish in the coming trading session if it manages to trade above the resistance level of 10200 else below support level of 9900 it would be in a downward trend.
Resistance: 10200 - 10530.
Support: 9900 - 9740.
Options Tomorrow
Options Trend and Stock Option Outlook will be updated soon.....
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