- CE Option selling seen at 5300 level and buying seen in 5200 CE option.
- Fresh Put selling seen at 5000 and heavy concentration of Puts at 5000 indicates it to be a good support area.
- Nifty futures : Huge uncovered gap seen between 5210 to 5337.
- Nifty futures open interest has come down from yesterdays level by 1063300 contracts indicating short covering.
Conclusion: Short term bottom has been made around 5000 and rally can be expected above 5200. However the rally is expected to fizzle out between 5200-5300.