Nifty October future was trading 23 points premium on Wednesday at 3:30 p.m. in account of short covering in market. Market was volatile on Wednesday in small range. Traders were using every dip in market for short covering. Nifty option data shows a range of the market between 4700 to 5200. Maxium positions came at 4400 strike rate‘s put on Wednesday which marks a range will be shifted from 4700 to 4400 in October if market breach the 4700 level. After the better unemployment claims data and European central bank’s announcement U.S. and European markets have rallied. Asian markets are following the Wall Street and open higher in early morning. Sgx Nifty trading on 4870 level about 120 points up from Indian closing on two days ago. Nifty may face resistance on 4900 -4950. DLF , JP ASSOCIATE, and EDUCOMOP can buy for the day.
