Page 2 - Nifty Put News Today : Breaking News, Live Updates & Top Stories | Vimarsana

If the index manages to sustain above 22,500, the market could even reach new all time highs in the near term.

Nifty on Monday ended 189 points higher to form a long-legged Doji candle pattern on the daily chart as it managed to move above the initial hurdle at 22,300 levels.

The options data suggests that the trading range for today's expiry is between 19,700 and 20,000. Nifty Put options OI concentration is the highest at 19,500 followed by 19,600 and 19,800 which are likely to act as support with the highest writing at 19,800 and 19,700 strikes.

As for the Bank Nifty which had a weekly expiry on Wednesday, the series witnessed short covering with an increase in price of 3.87% and decrease in OI by 16% where there was shedding of over 4 lakh shares in OI, decreasing from 25.17 lakh to 21.15 lakh shares. The Bank Nifty August series rollover stands at 17%.

Krishnan sees a strong support at 19,300 with the sheet anchor lying around the 19,250-19,200 zone and 19,500 acting as a strong resistance and only a decisive breakthrough will re-strengthen the undertone in his opinion.