3-9-2009 trading shows that though the world, Shanghai were in green our markets positive opening could not sustain and closed at 4594-14 points. (This is because of FII heavy short buildup in index and stocks futures on previous day).

• FII sold in cash, index, stocks futures but to a smaller extent.
  
• F&O nifty future added a round figure of 6 lakhs (?).
  
• Option writings heavy 4700 call and some 4600 put writing shows that range is shrinking.
  
• US markets closed in +ve just for closing.
  
• Global markets are flat.
• SGX nifty is + ve.

• Technical indicators are continuing downward.

Over all view: As nifty is nearing the strong support line ie., nifty 4550 one should be more cautious. As we expected that for the initial activity of options of puts @4500 and calls @4900,5000 at the starting of the series, nifty has to make journey to both the extremes, one side level is reaching means we may expect nifty to rise and reach 4900-5000 in near future, may be in one week. If nifty could not cross 4700 zone in the next week and breaks down side support line of 4550 one can expect the upper level is history.