Nifty Future decline’s for fourth consecutive week. Weak global cues continue to cast a shadow on Indian markets as the losing streak extended for the fourth straight week. Ebola fears, crash in Greece market, slow economic growth outlook globally and uncertainty about Federal Reserve saw global market going into a tailspin.
Nifty future closed at 7,817 with a low of 7,752 with percentage change of -0.87%. Open interest addition was seen in 8200/8000 calls and 7800/7600 puts. Maximum OI concentration is placed at 8000 call indicating resistance for nifty and maximum OI is placed at 7800 put indicating support for market. For this week Nifty future is having the major resistance of 7880 and above this level having the next resistance of 7960 and in down side first support of 7750 and below this level next support of 7660.
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