NIFTY

NIFTY OI data
4300-4400-4500 puts have added OI and now have significantly more open positions than 4300-4400-4500 calls thus suggesting expiry to be in between 4500 to 4600 or between 4400 to 4600, so buying 4500 and below puts in hope of near expiry is not worth it. At the same time 4600 call have 34 lac open positions as against 12 lacs in 4600 puts thus suggesting expiry may not be above 4600.
On the long term charts 4650-4660 is an important resistance above which stands 4690 an burst above these levels with good volumes will push nifty into a different orbit altogether . also after attaining 4690 the nifty has been moving in a down ward sloping channel which most of the time breaks upwards, the happening of which will depend on DOW which has to get past a crucial barrier of 9100-9250.