The market stayed weak on January 25 - the monthly expiry date - and analysts and traders expect the downward trend to continue as the index respects resistance placed at 18,250. The Nifty was down 0.95 percent at 17,946.25 in morning trade.
The February 2 contracts saw heightened activity at 18,000 and 18,100 with heavy Call writings. Thus, they may emerge as local resistances for the index. Put writers were relatively less active.
Ankush Bajaj, a Chhattisgarh-based trader, said he has a negative outlook on the index. He has been holding a short position since yesterday and plans to continue with this position even in the next expiry.