Market Outlook
After a gap up opening, Nifty future witnessed sustained buying interest across the board throughout the day and finally closed above 4900 levels. On option front, maximum Put OI is at 4700 strike while maximum Call OI is at 5000 strike and fresh writing seen at 5100 and 5200 strikes. If Nifty future sustains above 4950 levels then it may go up to 5050-5100 levels. On downside if it fails to hold 4850 levels, then selling pressure may get intensified in the market towards 4800-4750 levels.
Derivatives Calls : Buy M&M and Coalindia
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