Hi Traders,
Today, Nifty Opened strong above 5000 around 5025 after Infosys came out with strong results and good guidance for the rest of the year. By afternoon saw a high of 5055 and sell off to 5001.Recovered slowly to 5020 and took off from there. Swiftly moved past 5040, 5060 and 5100 touched a high of 5108 and closed around 5100.
here is Nifty Option Chain of 12th Oct 11(Wed).
Notice the build up at 4800,4900,5000,5100 Puts. more than 18 lakh build up at both 5000,5100 puts.looks like bulls are optimistic about the momentum.Next resistance zone to keep in mind is 5170 region .
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