The Sensex closed at 18345, down by 186 points, the index touched a high and a low of 18,492.68 and 18,319.88 respectively. While Nifty index shut up at 5499, The index touched high and low of 5,541.80 and 5,487.65, respectively.

Nifty May 2011 futures closed at 5,490.10, at a discount of 8.90 points over spot closing of 5,499.00, while Nifty June 2011 futures were at 5,503.00 at a premium of 4.00 points over spot closing. The near month May 2011 derivatives contract expires on Thursday, May 26, 2011. Nifty May futures saw addition of 10.72% or 2.65 million (mn) units, taking the total outstanding open interest (OI) to 27.40 mn units.

For Nifty calls, 5500 strike price (SP) from the May series was the most active call with an addition of 3.02 mn or 75.40%. Among Nifty puts, 5500 SP from the May month expiry was the most active put with an addition of 0.18 mn or 2.82%. The maximum Call OI outstanding was at 5500 SP (7.02) and that for Puts at 5500 SP (6.63).

Suzlon has strong opening in the today's session but can't sustain it for long and looses all it gains and closed with the weaker notes. The stock is trading with the negative bias and below the level of 48 some more downside can be seen in it.

R - 55.50

S- 48

Tata motor has shown sharp correction in the today's session. The stock is trading with the negative bias and has closed below the short term and medium term moving average. So the stock is looking weak and below the support level some more downside can be seen in it.

R - 1160

S- 1105

Tata power has made a comeback after making a new 52 weeks low in the previous session. The stock is looking good and above the resistance level of 1250 it may further continue the uptrend in the short run.

R - 1250

S - 1190

The stock tried to take support at lower levels earlier and is consolidating currently. It has support at 2712 while resistance at 2720. One has to wait for crossing of levels on either side before taking any positions in it.

R - 2720

S- 2610

It is taking resistance at 948 and support at 900 in today's trading session it manage to trade and close above the 10 days and 50 days moving averages and it was up by 1.49 %. It is looking bearish in the coming trading session one can go for short position in at 908 else above 948 it would be in an upward trend.

R - 948

S- 908

The Indian share market closed with red eye. BSE-30 stock closed with 2.39% dwon and NSE-50 Nifty closed with 2.37% down. Both market was down after opning under pressure(selling). Bajaj Auto was the only share in the Nifty 50 & Sensex 30 shares supported by bulls while others reigned by bear. For the week, the Sensex and Nifty fell 2.11% each.

Nifty February 2011 futures closed at 5,382.00, at a discount of 13.75 over spot closing of 5,395.75, while Nifty March 2011 futures were at 5,396.50, at a premium of 0.75 points over spot closing. The near month February 2011 derivatives contracts expire on Thursday, February 24, 2011. Nifty February futures saw an addition of 26.61% or 5.82 million (mn) units, taking the total outstanding open interest (OI) to 27.71 mn units.

For Nifty calls, 5500 strike price (SP) from the February series was the most active call with an addition of 2.05 mn or 43.14%. Among Nifty puts, 5400 SP from the February month expiry was the most active put with a contraction of 0.73 mn or 7.92%.

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Nifty Future can move down tomorrow, its continue with bearish trend . Nifty range may be 5542 to 5411 and it follow last three trading days. Nifty future manage level of 5411 and if sustain this level it can move down for next session. for Nifty Future is at 5400/5350 and it has resistance at 5542/5622 levels.

Resistance - It may be 5542 to 5622

Support - It may be 5400 to 5350

Bank Nifty closed to its day low. If it sustain below 103385 then it fall down. go for higher level selling tomorrow. Support for Bank Nifty future is at 10385/10300 and it has resistance at 10640/10722 levels

Resistance - It may be 10640 to 10722

Support - It may be 10385 to 10300

On the call options front we can see that accumulation of open interest is seen in the band of 5500-5700 strikes.

On the put options front we have seen addition of open interest at strike price of 5400, 5300 and lower strikes.

In Feb. Series addition of open interest on the calls front is existent at strike price of 5500-5800 band indicating it as resistance on the upside whereas on the put options front we can see highest accumulation of open interest at strike price of 5400 indicating it as an immediate support on the downside.

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