Thursday, September 30, 2010

An expiry close to 6000 levels for the September series...


Yesterday markets closed below 6000 levels for the first time in the expiry week.

Options data saw huge unwinding in 6100 puts as well as in 6000 puts with 6000 calls adding a huge open interest. The PCR at 1.19 though not heavily skewed indicates mild bullishness in the expiry day.

Overall in the last week, markets have been hovering around 6000 levels and for today it is expected to trade in a narrow range of 5975 to 6030 levels before settling for the day very close to 6000 levels for the September series.

Resistance levels : 6004, 6030

Support levels : 5981, 5975


-Happy Trading

No comments: