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This is an archive article published on December 30, 2011
Options see Nifty in 4,500-5,000 range
Option contracts on Nifty see that the index may move between 4,500 and 5,000 in the January.
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Options see Nifty in 4,500-5,000 range
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Option contracts on India8217;s 50-share index Nifty indicate that the index may move between 4,500 and 5,000 in the January equity derivative series,three futures and options analysts said.
In the January series,the highest open interest in call options is at 5,000 strike with 3.6 million shares and highest put open interest is at 4,500 strike with 3.8 million shares,NSE data showed on Thursday.
We expect that market may take support near 4,580-4,600 level in the short term,said B. N. Rahul,derivative analyst at Dalmia Securities.
The Nifty closed below the 4,750-4,800 band for second consecutive month for the Dec and Nov series on an expiry to expiry basis.
The weekly candlestick pattern being formed is quite bearish,unless the market sees a big move up today,thereby changing the weekly bar,said Gautam Shah,vice president,finance services at JM Financial in a note.
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