6-11-09 trading shows the nifty faced resistance at opening levels and lost some steam before close at nifty 4796 +30.

• FII data : bought in cash, index futures and stocks futures.
• F&O nifty futures sheds open interest means profit booking in longs.
• Option writings: more put writing  at 4700 & 4600  and more call writing at 4800 & 4900 means the short term range is between 4900 to 4600.
• Nifty has to break the range in this month?.  
• US markets and Global cues are flat to + ve.
• SGX nifty is flat.

Over all view: As seen from FII long build up in stocks futures continuously and 26.4 lakhs index futures net buying, it is felt that final journey for this month may be to long side with immediate trading side ways for one or two days. Hence, it is felt that one may try to accumulate the calls of 4900/4800 for this week targeting the settlement closing above 4900.