Nifty October futures ended at a deep discount of 16.15 points to the underlying index on Saturday’s Mahurat trading due to lower investor participation.

However, the October Put Call Ratio (PCR), which jumped from previous week’s 1.27 to 1.72 on Friday, remained unchanged.

As the Nifty, during the week, took a strong support from the March 2009 trendline, the index seems on a firm ground for a possible move towards 5250, validated by the trendline joining Nifty’s highs since August 2009.

The creation of 9.2 lakh shares for in-the-money October 5200 puts, while an average build-up of 4.6 lakh shares in 5200-5300 October calls during the week reflects rising resistance at the level.

DLF

Shares of DLF gained more than 6% on Friday to Rs 460.65 and closed above a trendline joining its highs since May 2009. As long as Rs 450-445 is not breached, the stock can look to move towards Rs 470, going by the build-up in October 470 calls on Friday. On the other hand, a fall below Rs 445 can drag down the stock to Rs 426.

ICICI Bank

Shares of ICICI Bank look poised for a rise towards Rs 995-1,000 as long as a support at September 2009 high (Rs 927) is held.

The upward range encompasses the highs made during February-July 2007 as well as lows during the January-February period in 2008.