The Nifty future shut shop at 5599.75 gaining 59.80 points or 1.08 percent. Nifty future decreased 5,86,950 shares in open interest, and came to premium of 14.30 from premium of 13.80, whereas cost of carry is 6.23 vs. 5.70, up 9.30 percent. On the options front the OI PCR is at 1.23 vs. 1.16, whereas the Volume PCR at 0.99 vs. 1.11. On the Volatility Front the Indian Volatility Index has ended at 19.52% vs. 20.83% losing 6.29%.

Nifty Resistance  Levels - Nifty has first resistance of 5660 & second resistance is 5760.

Nifty Support Levels - Nifty has first support of 5550 & second support of 5490.

On the call options front addition of open interest was witnessed in last trading session at strike price of 5700 and 5800.

On the put options front we have seen addition of open interest in last trading session at strike price of 5500 to 5400. OI Chart Analysis: From the OI Chart we can see the strike price witnessed highest addition of open interest in the July Series. In coming sessions market may trade in a range of 5400-5800. On the call option front strike price with the highest open interest i.e 5700 and 5800 may act as resistance on the up side whereas on the put option front strike price with the highest open interest i.e 5500 to 5400 may act as a support on the downside.

The stock remained to be in consolidation throughout the day . One could hold the short positions in the stock as it is expected to move till the levels of 317-315 in coming trading sessions.

R - 338 

S - 315

The stock showed a continuous up move during the trading hour and closed on a positive note. The stock is now facing resistance at 2533 which is the 50 day moving average of the stock and has support at 2480. As the stock closed with positive biasness a further up movement can be seen in the stock once it breaks its resistance level. One may go for buying the stock once it breaks its resistance level.

R - 2553

S - 2480