INSUBCONTINENT EXCLUSIVE:
By Chandan TapariaThe Nifty50 index has opened with a downward gap in line with the weak global cues, but managed to recover from lower
zones and reclaim the 10,950 mark despite having closed some 15 points lower for the day.
The index formed a bullish candle on the daily
scale, as it managed to hold above 10,880 level
Supports are gradually shifting higher and now Nifty has to hold above 10,880 to extend its move towards 11,080 and then 11,176 levels,
while on the downside support exists in the 10,820-10,800 zone.
On the options front, maximum Put OI was at 10,000 followed by 10,500 while
maximum Call OI is at 11,000 followed by 11,200 levels
Put writing is seen at 10,900 followed by 10,850 while Call writing was seen at 11,200 followed by 11,100
The options band signifies a trading range between 10,800 and 11,080 levels.
India VIX fell 2.23 per cent at 14.33 level
The overall volatility fell sharply from higher levels in last eight sessions with a surge in Put-Call Ratio, which suggests overall bulls
It formed a bullish candle but negated its higher highs formation on daily scale
Now it has to hold above 27,000 to extend its gains towards 27,500 and then 27,750 levels, while on the downside, support is seen at 27,000
and then 26,850 levels.
Nifty futures closed flat at 10,986 level
Long buildup was seen in BEML, Ujjivan, SRF, LIC Housing Finance, DCB Bank and MM while Shorts were seen in Nalco, Allahabad Bank, Wipro and
