Kal pe Nazar (19-April-2024)Following a positive start, the Nifty experienced a range-bound activity throughout the first half of the trading session. However, as the day progressed, selling pressure intensified, causing the Nifty to dip below the 22000 mark. Ultimately, it settled near the day's low with a loss of 0.69 percent.
Despite outperforming compared to the Nifty 50, the Nifty Midcap 100 index settled with a marginal loss of 0.49 percent.
Among a range of sectors, Media and PSU Banks stood out as top performers, exhibiting strength. Conversely, Energy and Healthcare 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 22000. 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 21900 and 22250. The Max Pain is seen at 22200 spot with the CE/PE Combined Residual Premium/Pain Value of 1327.08 Crores.
In the cash market, Foreign Institutional Investors (FIIs) were net seller with an activity totaling 4260.33 crore, while Domestic Institutional Investors (DIIs) exhibited a net buying activity of 2285.52 crore.Disclaimers:
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