A good continuation of support.

Today's trades shows that short covering of index and stock futures continued well. Previous low was just broken and raised to close at 4075. FII data shows that shorts in index future, long in stocks futures and more selling in cash. Nifty Open interest was down by 11 lacks, a good sign of recovery. Global cues are further deteriorated. Dow is just waiting for fed move. As rumors spread the fed may reduce interest rate up to 0.25%. This may lead a little bit boost to the markets. However, -ve factors cannot be wiped out at once. Our F & O option writings shows that more call writing than put. Call writing at nifty 4100 at 8.9 lacks may give us a hint that our markets may not go beyond 4200. If we feel that steam in the markets are over at nifty 4200 one may accumulate shorts/ buy puts may be at the levels 3900-3800 for a remarkable profits.