Saturday, April 16, 2011

Market stuck at critical support

Infosys result has put market into a critical support level of 5795. The result has clearly indicated that for coming 2 qtrs the Rupee EPS from IT sector should be estimated down and there by the profit level too. But market didn't take the sudden resignation of two of the directors of Infosys. Even the Call OI has gone to 6.23% which means that there is aggressive Call writing at 5800 and 5900 level. Put OI has come down means Put options buying is substantially high.

CALL OI +6.23%
PUT OI -3.17%

call
SR.. BOD OI. Cur oi. Diff... Percent
5600 1004750 956150 -48600 -5.28
5700 2363650 2387400 23750 -0.52
5800 3929250 4646600 717350 20.21
5900 5349700 5847450 497750 18.04
6000 7553300 7729750 176450 2.16

put
SR.. BOD OI. Cur oi. .Diff... Percent
5600 5482150 5545650 63500 1.73
5700 7443650 7072000 -371650 -7.81
5800 6773050 6109550 -663500 -8.68
5900 5021300 3666850 -1354450 -32.9
6000 2600150 2206150 -394000 -20.6

Daily chart suggest that initial support is 5778 and resistence is 5878. Follow our technical analysis for more details. But

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