2 weeks Ago
The Indian market is likely to consolidate on Wednesday, tracking mixed global cues. The India VIX spiked to 19.02 during the day, reflecting heightened market volatility, before settling back to 16.
12 on Tuesday. The Nifty futures closed positive with gains of 1.16% at the 24,293 level.
On the options front, the maximum Call OI is placed at 25,000, followed by the 24,200 strike, while the maximum Put OI is placed at 23,000, followed by the 23,500 strike. Call writing is observed at 25,000, followed by the 24,250 strike, while Put writing is observed at 23,500, followed by the 23,700 strike. “Options data suggests a broader trading range between 23,700 and 24,700, with an immediate range between 24,000 and 24,500,” said Chandan Taparia, Head of Equity Derivatives & Technicals, Wealth Management, MOFSL.
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