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NSE sees rising put option contracts at 6,000 points

Source : REUTERS
Last Updated: Mon, Feb 04, 2013 06:09 hrs
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India's NSE Nifty could see support at around 6,000 points, analysts say based on a rise in put options at that level.

Open interest for put options at 6,000 points increased by 400,000 contracts on Monday, suggesting these investors don't expect too much downside below this level.

The spot NSE Nifty had fallen 1.25 percent in the four sessions between Tuesday and Friday after the RBI cut interest rates as expected but adopted a more cautious stance on future rate cuts.

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