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The markets slumped over 1.5% in trades on Monday, over political uncertainty ahead of Uttar Pradesh Assembly election results, scheduled to be announced tomorrow. The BSE Sensex slipped 274.12 points to 17,362.87 and the S&P CNX Nifty ended down 79.05 points at 5,280.35.
The Nifty future shut shop at 5318.55 losing 72.95 points or -1.35 percent. Nifty future decreased 193100 shares in open interest, and came to a premium of 38.20 from 32.15 whereas cost of carry is 6.83 vs.7.81 down -12.55% on the options front the OI PCR is 1.25 vs.1.33, whereas the Volume PCR is 0.95 vs. 0.99 on the Volatility Front the Indian Volatility Index has ended at 28.92 % vs 27.84% gaining 3.88%. Nifty Futures shut stop at 5318.55 down by -77.95 points or -1.44 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5290 else above resistance level of 5380 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 5380 & above this level the next resistance is seen near the 5440 mark.
SUPPORT: It has first support close to the level of 5290 & below this level the next support is seen near 5230 mark.