Hi Traders,
here is Nifty Option Chain of 14th Sep 11(Wed).
Nifty got support in the 4910-4920 region for the third time in the last 3 sessions and managed to cross 5000 and close above 5000. Notice the OI Build up at 4900 , 4800 Put. OI of 98 lakhs at 4900 Put and 82 lakhs at 4800 Put.looks like these put writers are sure of this support region 4800-4900 during this series.
If Nifty manages to go above the resistance zone ,5040-5060, it may go to recent highs around 5160 on short covering.keep in mind important dates , RBI policy on Sep 16th , Fri, and Fed Meeting on Sep 20th(Tue) and Sep 21st(Wed) and also the cloud of Euro Zone Crisis.
Volatility has become norm in recent trading sessions. Caution advised on Option Strategies, especially if you are writing or selling the options.
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