Following a gap-up commencement, the Nifty demonstrated limited fluctuations within a narrow range of 22430-22530 throughout the entire trading session. Ultimately, it concluded positively with a gain of 0.61 percent.
The Nifty Midcap 100 index displayed superior performance in contrast to the Nifty 50, concluding with a substantial gain of 1.74 percent.
Among a range of sectors, Media and Realty stood out as top performers, exhibiting strength. Conversely, Auto and FMCG lagged behind, facing hurdles and displaying weaker performance throughout the trading session.
The options market indicates that the highest open interest on the call side is at 22500 level, while on the put side, its at 22300. Looking at today’s option chain, we observe a greater amount of call writing activity compared to put writing, signaling a bearish sentiment in the market.
The Volume Weighted Average Price (VWAP) suggests a trading range for the next day between 22380 and 22620. The Max Pain is seen at 22400 spot with the CE/PE Combined Residual Premium/Pain Value of 542.55 Crores.
In the cash market, Foreign Institutional Investors (FIIs) were net selling with an activity totaling 522.30 crore, while Domestic Institutional Investors (DIIs) exhibited a net buying activity of 1208.42 crore.
