Benchmark share indices ended lower on Thursday, shrugging of better-than-expected November industrial production data, with Infosys leading the decline after the software major cut its dollar revenue growth guidance for fiscal 2012 because of the debt crisis in Europe. The 30-share Sensex ended down 138.35 points at 16,037.51 and the 50-share Nifty ended down -29.70 points at 4,831.25.

On the call options front addition of open interest was witnessed in last trading session at strike price of 4900 and 5000. On the put options front we have seen addition of open interest in last trading session at strike price of 4500 and 4600.

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 4700-5000. On the call option front strike price with the highest open interest i.e. 4900 and 5000 may act as resistance on the up side whereas on the put option front strike price with the highest open interest i.e. 4500 and 4600 may act as a support on the downside.

Nifty Futures shut stop at 4867.90 down by -4.40 points or -0.09 %. It is expected to be bullish in the coming trading session if it manages to trade above the resistance level of 4900 else below support level of 4771 it would be in a downward trend.

BSE Sensex closed at 16008 down by 158 points, the index touched a high and a low of 16,210.37 and 15,952.54 respectively. While Nifty index closed at 4805 down by 46 points, the index touched high and low of 4,866.10 and 4,787.10 respectively.

Nifty December 2011 futures closed at 4,812.00 at a premium of 6.90 points over spot closing of 4,805.10, while Nifty January 2011 futures were at 4,832.00 at a premium of 26.90 points over spot closing. The near month December 2011 derivatives contract expires on Thursday, December 29, 2011. Nifty December futures saw addition of 7.60% or 1.62 million (mn) units taking the total outstanding open interest (OI) to 22.95 mn units.

Among Nifty calls, 5000 SP from the December month expiry was the most active call with addition of 0.56 million or 11.47%. Among Nifty puts, 4700 SP from the December month expiry was the most active put with an addition of 0.22million or 3.16%. The maximum Call OI outstanding for Calls was at 5000 SP (5.50 mn) and that for Puts was at 4700 SP (7.13 mn).

The stock showed a down movement during the trading hour and closed on negative note. The stock is now facing resistance at 338 and has support at 323. 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 - 338

S - 323

MARUTI showed negative biasness in today's session and closed with negative note. The stock has resistance level at 1115 and support level at 1055. In short term it is expected to consolidate and remain range bound. Technically below support level it is looking weak on charts.

R - 1115

s - 1055

The stock is moving in a short term uptrend trend, in today's trading session it manages to trade above the 10 and 50 period moving averages. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 490 else below 460 it would be in a downward trend.

R - 490

S - 460

Nifty future closed at 5490.55 down by 8.15 points on last trading session, expiry & repo rate impact can see on trading session. Nifty looking bullish for upcoming session if it manage 5440 level, otherwise form the level of 5530 nifty seems to be bearish.

Nifty Resistance - Nifty has first resistance of 5540 & second resistance is 5615

Nifty Support  - Nifty has first support of 5440 & second support is 5340.

The stock showed an up movement during the trading hour. The stock is now facing resistance at 510 and has support at 495 which is the 50 day moving average of the stock. 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 - 510

S - 695

JINDAL STEEL AND POWER showed negative biasness and made an intraday low of 638. The stock has resistance level at 663 and support level at 625. It is expected to consolidate and remain range bound; also crossing of resistance level may take the stock at higher levels.

R - 663

S - 625

After a high of 290 ONGC has corrected and made a low of 274.60. In today's trading session it manages to trade near to the support level of 273, from this level further downside of movement would be expected. The stock has a resistance level of 282 and support at 273 .It is looking bearish in the coming trading session; one can go for short position in it at 273 for the target of 250.

R - 282

S - 272

BSe Index closed at 18693 with upward trend by 201 points, While Nifty Index closed at 5600 also with upward trend by 55 ponits. The market held the positive zone in afternoon trade as European stocks rose at the onset of the trading session and retained the positive zone in mid-afternoon trade. The market regained strength after trimming gains in late trade.

Nifty June 2011 futures closed at 5,608.00, at a premium of just 7.55 point over spot closing of 5,600.45, while Nifty July 2011 futures were at 5,629.95 at a premium of 29.50 points over spot closing. The near month June 2011 derivatives contract expires on Thursday, June 30, 2011. Nifty June futures saw addition of 10.76% or 1.76 million (mn) units, taking the total outstanding open interest (OI) to 18.16 mn units.

Among Nifty calls, 5600 SP from the June month expiry was the most active call with addition of 0.42 million or 5.57%. Among Nifty puts, 5600 SP from the June month expiry was the most active put with addition of 2.87 million or 65.06%. The maximum Call OI outstanding for Calls was at 5600 SP (8.06 mn) and that for Puts was at 5600 SP (7.29 mn).

SBIN  - Buy

Above - 2348.60

Tgt - 2361.10, 2378.20

SL - 2334

SBI Future Tomorrow

The stock consolidated with positive biasness, in today's trading session. It is mainly in bullish phase. It has next resistance level at 2356 and above this level further positive movements can be seen in it. One may hold long position till it breaches its support level of 2320.

R - 2354

S - 2322

Tata Motor Tomorrow

TATA MOTORS remained volatile throughout the trading session and closed flat. The stock has support level at 974 and resistance level at 991. One should wait for crossing of levels on either side before taking any positions in it.

R - 991

S - 974

Ranbaxy Future Tomorrow

Ranbaxy is moving short term down trend with good volume and closed at 532.85; from this level further downside of movement would be expected. The stock may reach to the level of 520 if it manages to trade below the support level of 530, below this level it might be in a downward trend.

R - 546

S - 530

Nifty futures today closed at 5534.20 up by 50.15 points, Nifty futures looking bulish from the resistance level of 5560, otherwise nifty seems to looking bearish form the support levels of 5440.

Resistance - Nifty Futures first resistance is 5560 & second resistance is 5625.

Support - Nifty Futures fisrt support is 5440 and another support level is 5335.

Resistance - Bank Nifty First resistance is 11100 & another resistance is 112400/

Support - Bank Nifty first support is 10810, & seconf support is 10608.