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The trend is likely to be volatile. The index it needs to hold above 20,250 to move towards 20,450 and then 20,600 levels. A slip can result in a decline towards 20,100 and then 20,000
On Nifty significant call writing buildup is witnessed in 21,750 and 21,800 strikes, while on the puts front, 21,700-21,600 witnessed considerable Open Interest additions. Overall, the range for the index could be 21,570 on the downside and 21,850 on the upside, said analyst.
Spot Nifty should cross the 20,940 mark to instigate bulls to ride the upward trend. This hurdle remains a crucial level for today, its expiry day.
AAVE derivatives registered around 50% surge in derivatives trading volume at the beginning of the week, an increase that reached more than 100% early
Nifty exhibited a positive tone as it maintained levels above the crucial support point of 19,250. A breach below this level could potentially spark unease within the market, causing concerns among investors.