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Key Highlights:

NIFTY faces strong resistance @ 20 Day SMA

NIFTY SPOT: 14496.50 (-0.94%)

DYNAMIC PARAMETER: NIFTY formed Higher Top Higher Bottom pattern

TRADING ZONE: Resistance: 14596 (20DaySMA)/ 14723 (Day HIGH)

Support: 14461 (Day Low) / 14416 (3 Day Low)

BROADER MARKET: OUTPERFORMED,

MIDCAP 24167 (-0.39%), SMALLCAP 8580 (-0.89%),

Advance-Decline: 808 / 1078

VIEW: Bearish below 14416 (3 Day Low).

BANKNIFTY SPOT: 32270.35 (-0.60%)

DYNAMIC PARAMETER: Index maintained Higher Top Higher Bottom pattern

TRADING ZONE:

Resistance: 32600 (Intraday Resistance) / 33011 (Day High)

Support: 32191 (Day Low) / 31906 (3 Day Low)

VIEW: Bearish below 31906 (3Day Low)

Key Highlights:

* Nifty May Futures ended 136.50 points down @ 14549.30 with a premium of 52.80 points

* Nifty futures open interest increased by 4.72 lakh shares with May series total open interest stands at 1.10 crore shares.

* Nifty 15000 call has highest OI, whereas 14000 put holds the highest OI and Banknifty 37000 call has highest OI and 28000 put has highest OI.

* Nifty 15000 call saw addition of 2.66 lakh shares in OI, whereas 13500 put saw addition of 2.41 lakh shares In OI.

* India VIX ended 2.87% down @ 23.01 against the previous close of 23.69

Technical Snapshot

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