NIFTY50:
The Nifty50 opened flat at 14,594.35 and hit an intraday high of 14,617.45 in early trade but immediately slipped into the red to hit the day's low of 14,357.85. The index end of the session closed at 14,433.70, down at 161.90 points or 1.11 per cent.Nifty index breaks 14,357 levels in the coming session and if the trend favours the bears, the Nifty may get initially dragged towards 14,050 to 13,950 kinds of level.
Intraday traders should create fresh shorts if the Nifty trades below 14,357 levels for more than 30 minutes on Monday for a modest target at 14,220 levels a stop loss above intraday high. Expert said.
On options front, maximum Put options open interest will seen at 14,000 followed by 13,500 strike, while maximum Call options open interest was at 15,000 followed by 14,500 strike. Call options writing was seen at 14,500 then 14,600 strike, while Put options writing was seen at 13,500 and unwinding at 13,700 strike. The options data indicated that the Nifty could see an immediate trading range at 14,300 to 14,600 levels in coming sessions.
BANK NIFTY:
The Bank Nifty opened lower at 32,508.90 and hit an intraday low at 32,044.35. It moves in a wide range of 500 points and saw some recovery in the last hour of the session. End of the session closed at 32,246.80, day with down at 272.95 points or 0.84 per cent, and formed a bearish candle on the daily scale.
NIFTY TOP 5 GAINERS AND LOSERS:
GAINERS: TATAMOTORS, BHARTIARTL, UPL, ITC and GRASIM.
LOSERS: TECHM, HCLTECH, WIPRO, GAIL and ONGC.
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