Consolidation of last two days paid off as benchmark indices surged more than a percent today, extending the winning streak to fifth consecutive day. Sensex gained 206 points to close at 18507 while Nifty ended at 5546, up 64 points. BSE mid-cap and small-cap indices gained 0.9% each.
F & O HIGHLIGHTS (ANAGRAM): Nifty future (February) closed at 5546.30, at a Discount of 0.15 Point v/s Premium of 3.55 previous days.
Overall (Marketwide) Open interest in value terms rose by Rs. 3,385 Cr or 2.16% to Rs. 1, 59,941 Cr while in Quantity terms OI went up by 1.11% to 258.15 Cr from 255.29 Cr shares.
Long Build up is seen in Stock futures where they added 1.82 Cr shares (0.94%) in OI, while derivative stocks saw average price rise of 1.15%. Long Build up is seen in SOBHA, INDIACEM, ALBK, ORIENTBANK, BATAINDIA and AXISBANK to name a few. Short Build up is seen in GMRINFRA and WIPRO.
On the lower side Nifty is likely to face strong support in the vicinity of 5400-5350 level, the level (5400) which consists of the second highest OI (i.e. 127.18 lacs shares) among the Nifty put options. On the other hand on the higher side Nifty is likely to face strong resistance in the vicinity of 5500-5550 level, the level (5600 which consists of the second highest OI (i.e. 104.18 lacs shares) addition among the Nifty Call Options.
FOR TODAY: Yesterday, Nifty spot hits 5550 and closed around that. EU markets ended flat and US market closed in green and scales new multi year high. Asian markets are trading positive except Shanghai which is flat (minor down). SGX Nifty trading around 5566.50, up 16.50 (at 8.45 am) indicating our Nifty may open around/above 5560 which was a resistance area on yesterday. If and only if, Nifty trade above 5560 with volume for the first fifteen minutes, we may see 5588-5590/5600 and 5624 levels today. On the downside, if breaks 5550 level, it may touch 5522/5500 level.
TRADE SAFE AND ALWAYS WITH STOPLOSS.
