Todays report 28 MAY 2009

On the final day of the derivative expiry of the May series Nifty opened on a relatively positive note amid mixed global sentiments and further pulled up during the day's trade. It managed to close above 4320, But the concern today was the resistance level of 4337 and if that was broken convincingly then of course the movement would have been upward. In fact with today's performance the market has recouped its strength, which is good sign, indicating the buying pressure in the market.Nifty options have seen writing at 4300-4350 levels resulting in selling at higher levels. Put writing is seen at 4150-4200 levels. In the June series writing is seen at 4500-4600 levels; though the build up remains on the lower side.In US Investors take data on durable goods and jobless claims in stride, stocks solidly higher. The worst credit crisis since the Great Depression has prompted economists to scale back forecasts for growth in the second half of the year.