Market wide open interest is seen at Rs. 88,355 cr. Nifty futures have
seen addition in open interest to the tune of 31 lakh shares with
premium seen at 8 points.
n Nifty remains in an up-trend above 4840. Resistance is seen in the range
of 4950-5000 beyond which it can test 5200-5250. Trend turns negative
on breach of 4840.
n Metal majors are expected to outperform in the near term. Tata Steel is
expected to test 605/633 levels in the near term. Sterlite also remains
positive at current levels. From the banking space, SBIN is expected to test
2067 levels.
n Tech majors are expected to witness selling at higher levels. Infosys has
resistance at 2620 levels; OTM put options can be bought in the same. TCS
has seen significant buildup in OTM call options indicating limited upsides
at current levels.
n Nifty OI concentration is seen at 4800 put and 5000 call options. Call
writing is seen at 5200 levels while put writing is seen at 4600-4650 levels
only. Open interest in 4900 put options indicates significant support at the
