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The gains on the bourses back home could be attributed to the short covering at relatively higher levels in the benchmarks.
The exuberance by the sellers on back of the political crisis impending looked to have
Nifty Chart
Market Snapshot
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November 22, 2010
Dow Jones
Nasdaq
S&P 500
5,671.17 -61.66 -1.08%
FTSE
6,807.85 -35.70 -0.52%
DAX
3,824.83 -35.33 -0.92%
CAC
Hang Seng
Nikkei
Starits Times
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November 22, 2010
The highest concentration of open interest is near the 6100 CE and 5900 PA, which is also supported by an increase in
the OI on the charts. The more important thing to be noted here is that there is a heavy decrease in the OI
concentration of 6000/5900 CA, which could be attributed to option writers closing position in At- the- Money options
and buying call options of these strike prices. In case of Put options, the increase in the 6000 strike prices indicates
that the traders are currently seeing that as the immediate support for the markets. The range from the option data
remains to be in the 6035-5955 in the coming session
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November 22, 2010
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