Tuesday, October 25, 2011


It is expiry of Nifty future and option for October series today. Heavy call writing in 5200’s strike rate marked a strong resistance level for Nifty. Nifty could not breach this level in entire series. A range shifting from 5200 level to 5400 level has seen in November series as Nifty option data shows. Ahead of the European announcement, Asian markets climbed sharply on Monday. After the gap-up opening Nifty has faced resistance 5150 level again and closed 5098 level near day’s low. New shorts have been added in 5200 strike rate’s call in Nifty options. Profit booking is seen in 5100 strike rate’s call. Nifty may expire between 5100 to 5200 levels on Tuesday. Wall Street added heavy gains second day in a row. Asian markets trading mix today. Singapore Nifty is trading flat and high volatility is expected today. Nifty may buy above 5200 level for the target of 5350 level.