Market Outlook
After a gap down opening, Nifty future remained in a narrow range of 30-40 points and closed below 5150 levels. On option front, maximum Call OI is at 5300 followed by 5200 strike while maximum Put OI is now shifted to 5000 strike. If Nifty future sustains above 5175 levels then it may move up towards 5220-5250 levels. On downside if it fails to hold 5100 levels, then selling pressure may get intensified in the market towards 5000 levels.
Derivatives Calls : Sell LT and buy Biocon
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