Nifty Future's close of 5552 on 15.02.2012 saw hectic activity on the options side with massive addition of open interest in the 5500 and 5600 puts followed by hectic profit booking mainly in the 5400 and 5500 calls and also all in the money calls like 5200 and 5300. Which shows the market facing a overhead resistance of 5600 and shorts building in the system. With most of the technical indicators in the over-brought area for quite some time, the key levels to watch on the downside for Nifty, before expiry will be 5440 and 5352.
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