1.MTECHTIPS:-Market Snapshot:&Options Analysis: Nifty futures closed at 5,279.40 at a premium of 4.25 points over spot closing of 5,275.

15, while Nifty August 2012 futures were at 5307.80 at a premium of 32.65 points over spot closing. Nifty opened on a negative note and witnessed selling pressure in select Infra, Metals and Power stocks. Nifty lost 0.79% to close at 5275 levels, in the previous trading session. Nifty maintained the consolidation mode for the week and traded in the tight range of around 5260-5335 levels. Nifty future saw decrease in OI by 1.23% with a marginal fall in price by 0.32%. Nifty July futures saw contraction of 0.59 million (mn) units taking the total outstanding open interest (OI) to 22.81 mn units. If Nifty sustains 5300 levels then rally may continue towards 5360 levels. Whereas on downside if it sustains below 5260 then selling pressure may get intensified towards 5220 levels.On the Options front, Open interest of all Call options for the Jul series has increased to 3.57 Crore shares, while the average implied volatility has decreased to 12%, which indicates addition of short positions, in the previous trading session. Call options strikes of 5300, 5400 & 5500 have seen addition of open interest, for the Jul series in the previous trading session.Open interest of all Put options for the Jul series has decreased to 5.07 Crore shares, while the average implied volatility has increased to 22%, which indicates closure of short positions, inthe previous trading session. 2.MTECHTIPS:-Technical Snapshot:
The Nifty futures gave a negative opening taking cues from the weak global markets. Markets made a lower opening tracking the weakness in the global markets and lower than expected US jobs data which was announced on Friday post the market hours. Immediately after the start, markets showcased a partial recovery in the morning trades on the back of buying in the IT and FMCG heavyweight pockets. The sentiments also got some support as shares of tyre firms extended recent gains triggered by decline in prices of natural rubber.But in the early noon session, benchmarks suddenly extended losses and touched their intraday lows tracking subdued start in European counterparts. Moreover, fall in Metal space too dampened the sentiments. In addition, power stocks fell for the second straight day on profit booking after recent strong gains. Thereafter, markets traded in narrow-range with negative bias till end, weighed down by financial shares. HDFC was down over 1.5% ahead of its results this week on concerns that profit growth could be lower on the back of sluggish demand for home loans during the first quarter. However, the indices recovered marginally in the last leg of trade tracking a little pullback in rupee but, ended the session with a cut of over half a percent.The top gainers on the Nifty were DLF up 1.09%, TCS up 1.09%, Dr Reddys up 0.29% and Hindalco up 0.04%. On the flipside, Reliance Infra down 3.56%, Jindal Steel down 3.12%, JP Associates down 2.98%, Ranbaxy down 2.96% and Tata Power down 2.80% were the top losers on the index.