Hi,
Today, Nifty Started around 5040 but soon came below 5030 and to 5010 levels around 10.15 a.m.There was news at this time that central minister Mr chidamram will be questioned in the 2G scam . very soon, Nifty moved below 5000 and never really recovered. went down all the way to 4925 level in the last half an hour and recovered to 4960 and closed around 4930.Combined with yesterday's performance,i guess, Nifty lost the bullish momentum and now have to wait for the dec 09th Euro Summit outcome.As i write this, 10.30.pm. Europe market closed in negative and US markets are trading in red.expect flat to soft opening of nifty tomorrow.
here is Nifty Option Chain of 08th Dec 11(Thurs). 5100 and 5200 calls have seen built up and 5100, 5000 puts have seen reduction in OI. looks like it is call writing and unwinding of 5100,5000 puts indicating bearish tone.
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