NIFTY50
Thee Nifty opened down at 15,808.70 and hit an intraday low of 15,764.20, but gained strength to hit the days high of 15,877.35 in the afternoon session. The Nifty index finally settled at 15,854, up 41.60 points or 0.26 percent.
The Nifty has to hold above 15,800 to witness an up move towards 15,915 and 16,000, while on the downside, support exists at 15,750 and 15,600, say experts
On the options trades front, maximum Put optiou open interest was seen at 15,500 followed by 15,000 strike, while maximum Call option open interest was seen at 16,000 followed by 15800 strike. Minor Call writing was seen at 15,900 then 16,300 strike, while minor Put writing was seen at 15,700 then 15,000 strike. Options data indicated an immediate trading range for the Nifty at 15,700 to 16,000 levels.
The Bank Nifty opened negative at 35,585.85 and moved in a range for the most part of the session. It surpassed its previous days high levels but failed to hold above 35,800 and closed the day at 35,668.30, down 5.10 points or 0.01 percent
BANK NIFTY :
The index formed a bullish candle on the daily scale, forming higher highs to higher lows from the third session. The Bank Nifty has to hold above 35,500 to move up towards 36,000 and 36,250, while on the downside, support is seen at 35,350 and 35,000, said analysts.
The index formed a small bullish candle on the daily chart as the closing was higher than opening levels.
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