Market Outlook
After a gap down opening, Nifty future remained in a narrow range of 5020 to 5060 levels for the entire sessions and closed below 5050 levels. On option front, maximum Put OI is at 4700 followed by 4800 strike while maximum Call OI is at 5300 followed by 5200 strike. If Nifty future sustains above 5050 levels then it may move up towards 5100-5150 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 for the market.
Derivatives Calls : Buy BFutilities and Sell Relinfra
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