Nifty Encountered Selling Pressure

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Nifty encountered selling pressure and sustained a negative bias throughout the trading session. Ultimately, the Nifty settled in the negative territory with a loss of 0.76 percent.

The Nifty Midcap 100 index displayed weaker performance compared to the Nifty 50 index, settling with a significant loss of 2.48 percent.

Among various sectors, IT and Healthcare emerged as the standout performers, showcasing robust performance. Conversely, Media and PSU Banks underperformed, encountering challenges and displaying weaker results throughout the trading session.

The options market indicates that the highest open interest on the call side is at the 22000 level, while on the put side, it’s at 21500. Today’s option chain shows that there is more call writing than put writing, indicating a negative sentiment in the market.

The Volume Weighted Average Price (VWAP) suggests a trading range for the next day between 21490 and 21780. The Max Pain is seen at 21700 spot with the CE/PE Combined Residual Premium/Pain Value of 260.33 Crores.

In the cash market, Foreign Institutional Investors (FIIs) were net buyers with an activity totaling 126.6 crore, while Domestic Institutional Investors (DIIs) exhibited a net buyer activity of 1711.25 crore.

In the index futures segment, we noticed a mild negative shift from Foreign Institutional Investors (FIIs) with short addition, while clients showed a positive trend with long addition. Additionally, Pro displayed a negative change with long unwinding and short addition.

In the index options segment, we observed a negative change from Foreign Institutional Investors (FIIs), characterized by call writing. Conversely, clients exhibited a positive trend with call additions and put writing. Additionally, Pro displayed a negative change with put addition and call writing.

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