6100 likely to act as resistance for Nifty: Aditya Birla

Aditya Birla Money has come out with its derivative report. According to the research firm, Nifty Futures call options 6100 strike saw addition in open interest of around 1.04 mn, further indicating that 6100 is likely to act as resistance.

Nifty Futures open interest saw a marginal increase of around 0.04% and Nifty Futures saw a decrease of around 0.20%. India VIX saw an increase of around 4.42%: Indicating negativeness for the market. The PCR for Nifty based on open interest went up to 0.97 as compared to 0.95 as on the previous trading session: Indicating positiveness for the market. Nifty Futures is trading at a premium of 22-23 points as compared to a premium of 13-14 points as on the previous trading session: Indicating positiveness for the market. 

High put option open interest build up of around 6.0 mn is seen at 5900 strike: Indicating that traders are betting on 5850-5900 to act as strong support. High call option open interest build up of around 7.4 mn is seen at 6100 strike: Indicating that traders are betting on 6100-6125 to act as strong resistance. In call options 6100 strike saw addition in open interest of around 1.04 mn: Further indicating that 6100 is likely to act as resistance. In put options 5900 strike saw addition in open interest of around 0.73 mn: Further Indicating that 5900 is likely to act as support.

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