The Nifty50 index opened in the positive on Tuesday, but followup buying was missing at higher levels and the index got stuck in a 40-50 points range for the entire session.
The index formed a contradicting pattern on the daily chart, which suggested sideways momentum. As long as the index holds above 10,680, it can extend its rise towards 10,780 – 10,800 zone, while a hold below 10,680 can drag it towards 10,638 and then 10,600 levels.
India VIX moved up 2.14 per cent to 14.05.
The index formed a contradicting pattern on the daily chart, which suggested sideways momentum. As long as the index holds above 10,680, it can extend its rise towards 10,780 – 10,800 zone, while a hold below 10,680 can drag it towards 10,638 and then 10,600 levels.
On the options front, maximum Put open interest was at strike price 10,500 followed by 10,600, while maximum Call OI was at 11,000 followed by 10,800. There was Put writing at 10,500 and 10,700 levels, while minor Call unwinding was seen at immediate strike prices. Option data suggested an immediate trading range between 10,650 and 10,850 levels.
India VIX moved up 2.14 per cent to 14.05.
the options front, maximum Put open interest was at strike price 10,500 followed by 10,600, while maximum Call OI was at 11,000 followed by 10,800. There was Put writing at 10,500 and 10,700 levels, while minor Call unwinding was seen at immediate strike prices. Option data suggested an immediate trading range between 10,650 and 10,850 levels.
India VIX moved up 2.14 per cent to 14.05.
India VIX moved up 2.14 per cent to 14.05.
It formed a Dragon Fly Doji on the daily chart, which implies that every decline was being bought into. As long as the index holds above 25,750 level, it can extend its move towards 26,250 and then 26,500 levels, while on the downside, supports are seen near the 25,750 mark.
Nifty futures closed flat with the loss of 0.05 per cent at 10,735. Long buildup was seen in ICICI Bank, SRF, Exide IndustriesNSE 1.96 %, Pidilite Industries, KPIT, PTC, Concor, Axis BankNSE 1.15 %, SBI and Federal BankNSE 2.22 % while shorts were seen in Jubilant Foodworks, PC Jeweller, VoltasNSE -1.17 %, Ambuja Cement, McDowell, HDFC Bank and IndusInd Bank.
Nifty futures closed flat with the loss of 0.05 per cent at 10,735. Long buildup was seen in ICICI Bank, SRF, Exide IndustriesNSE 1.96 %, Pidilite Industries, KPIT, PTC, Concor, Axis BankNSE 1.15 %, SBI and Federal BankNSE 2.22 % while shorts were seen in Jubilant Foodworks, PC Jeweller, VoltasNSE -1.17 %, Ambuja Cement, McDowell, HDFC Bank and IndusInd Bank.
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