F&O: Nifty support moves to 15,100-15,000 zone; VIX falls below 19 level


The Nifty index opened with a spot up at 15,291 ranges on Wednesday, however witnessed stress at increased zones and consolidated in a broader vary. It settled the day on a flattish be aware however continues to kind increased highs and better lows for the final three buying and selling periods. Technically, it fashioned a Bearish candle on the each day scale with an extended decrease shadow.

Now, Nifty has to maintain above 15,150 level to witness an up transfer in direction of 15,300 after which lifetime excessive of 15,431-mark, whereas on the draw back, support exists at 15,100 and 15,000 ranges.

India VIX fell down by 1.50 per cent from 19.13 to 18.84 ranges. India VIX wants to maintain below 20 zones to lengthen the bullish market momentum in direction of new lifetime territory.

On the choice entrance, Maximum Put Open Interest was seen at 15,000 level adopted by 14,500, whereas most Call OI was seen at 15,500 level adopted by 15300. Call writing was seen at 15,300 and 15,350 strike, whereas Put writing was seen at 15,200 then 15,100 ranges. Option information suggests a buying and selling vary between 15,000 and 15,400 ranges.

The Bank Nifty opened on a constructive be aware, however couldn’t cross its earlier day’s highs and moved in a variety all through the day. Banking shares underperformed the broader market and the index closed with losses of round 280 factors. It fashioned a Bearish candle on the each day scale and negated its increased highs and better lows formation of the final two periods. Now it has to maintain above 34,500 level to witness an up transfer in direction of 35,000 and 35,250, whereas on the draw back, support exists at 34,250 and 34,000 ranges.

Nifty future closed flat to constructive with the beneficial properties of 0.21 per cent at 15,235 level. On the shares entrance, bullish setup was seen in Concor, Colgate Palmolive, Asian Paints, Titan, Balkrishna Industries,

, Page Industries, MFSL, BHEL, UBL, , Jubilant Food, TCS, and Tech Mahindra, whereas weak spot was seen in Amara Raja Battery, Cummis, M&M Finance, , (*19*), and Reliance.

(Chandan Taparia is Technical & Derivative Analyst at MOFSL. Investors are suggested to seek the advice of monetary advisers earlier than taking an funding calls based mostly on these observations)


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