Hi Traders,
here is Nifty Option Chain on 29th Sep 11(Thurs). Data pertains to OCT Series. Currently the highest OI Build up is at 4800 Put and 5200 Call. hence the range for the Nifty in Oct series appears to be 4800-5200.
Recall that in the SEPT series 5160-5170 area proved to be a strong resistance area for Nifty. and also 4910-4920 was good support area.It was broken once and nifty has gone all the way to 4760 and recovered. It managed to close above 5000 on the expiry day(today).
Make a note of Holidays in Oct Series.
06th Oct, Thursday
26th Oct,Wednesday
27th Oct, Thursday
Oct Series settlement week has only 2 trading sessions and settlement is on 25th Oct ,Tuesday.Sessions approaching the expirty date are usually high volume and volatile. In the Oct Series, these high volume , volatile sessions may start from the middle of 3rd week. Just to make things interesting,on 25th Oct,Tue, RBI announces its policy.
Today, Germany has voted yes on EFSF expansion. There are voting , meetings in the October in Europe on Euro Debt Crisis. These are market moving events.keep a tab on them.
Happy Trading in the Oct Series
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