Market Outlook
After a gap up opening, Nifty future remained highly volatile in a range of 30-35 points and moved up towards 5150 levels. After the RBIs rate hike news, it was unable to hold higher levels and closed below 5100 levels. On option front, maximum Put OI is at 4700 strike and fresh writing seen at 5000 strike while maximum Call OI is at 5200 followed by 5300 strike. If Nifty future sustains above 5100 levels then it may move up towards 5150-5200 levels. On downside if it fails to hold 5000 levels, then selling pressure may get intensified in the market towards 4900 levels. Now 4900 levels would be immediate strong support as of now for the market.
Derivatives Calls : Buy IRB infra and Educomp solution
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