Hi Traders,
Here is Nifty Option Chain of 03rd Aug 11(Wed).Hope you are noticing the trend in the Equity markets in the US and Europe. US Dow is below 12000 as i write this and Europe markets , DAX, CAC, FTSE closed with more than 2% cuts.Asian Markets may open down tomorrow.
Notice today's ,03rd Aug , OI Build up at 5300 Put ,around 19 lakhs and 5400 call around 13 lakhs.Assuming the market particapants' current outlook is bearish on the market ,even 5400 is seen as temporary ceiling. But consider the build up at 5300 Put. May be that is considered a good support for the nifty for time being.we are probably in this congestion zone of 100 points for now.
Take note of the unease/uncertainty in the market. Trade little and do well. Happy Trading.
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