INSUBCONTINENT EXCLUSIVE:
session.
It formed a bearish candle on a daily scale, which suggests the bears are putting pressure at higher levels
Now, it has to hold and sustain above 10,929 to extend its gains towards 11,080, while a hold below the same level could drift it towards
10,888 mark.
On the options front, maximum Put open interest was at 10,600 followed by 10,700, while maximum Call OI was at 11,000 followed
Meaningful Call writing was seen at 11,000 followed by 11,100 while Put unwinding was seen at all immediate strike prices
The option band signified an immediate trading range between 10,888 and 11,080 levels.
India VIX moved up 5.26 per cent to 12.94 level.
Bank
Nifty opened in the negative and failed to surpass the 27,000 mark and corrected towards 26,640
It formed a bearish candle on the daily scale, which means the bears held a grip on the market.
As long as the index holds below 27,000, it
could slip towards 26,500, while on the upside, a hurdle is seen at 27,000 level.
Nifty futures closed in the negative with a 0.67 per cent
Jeweller, Ajanta Pharma and Tata Global.
(Chandan Taparia is Technical Derivative Analyst at Motilal Oswal Securities
Investors are advised to consult financial advisers before taking an investment calls based on these observations)
