Reuters IN: Market Data

Nifty option statistics continue to suggest upward momentum for the index. The March Nifty put options of strike prices of 5000, 5100 and 5200 have added large quantity of Open Interest. The most active Nifty call option is now the one at 5300 strike. Short-sellers have covered 5100 and 5200 call options in a big way. This, by itself, raises a possibility of a probable test of the resistance zone.

On the way up, the level of 5157 and 5181 would give strong resistance; support exists between 5105 and 5089.

BSE Sensex: (17168) the crucial support on the Sensex on the downside is 17000 and resistance at 17272

Our market witnessed one of the most frantic short-covering rallies in recent memory. The Nifty jumped from 5112 to 5152 only to settle down at 5133.40. The Nifty PCR has moved up from 1.39 to 1.50-a big jump in a day’s time, by any reckoning, to be sure.