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Key Highlights:

The NIFTY closes below 50 Day SMA….

NIFTY SPOT: 14557.85 (-1.11%)

DYNAMIC PARAMETER: Nifty maintained Lower Top Lower Bottom formation.

TRADING ZONE: Resistance: 14736 (50 Day SMA) / 14875 (Day High)

Support: 14467 (Swing Low) / 14336 (Gap Support)

BROADER MARKET: UNERPERFORMED MIDCAP 23129 (-1.37%), SMALLCAP 8149 (-1.28%)

Advance-Decline: 444 / 1462

VIEW: Bearish till below 15051 (Weekly High).

BANKNIFTY SPOT: 33856.80 (-1.09%)

DYNAMIC PARAMETER: Index closed below 50 Day SMA

TRADING ZONE:

Resistance: 34270 (50 Day SMA) / 34760 (Day High)

Support: 33597 (Day Low) / 33305 (Gap Support)

VIEW: Bearish till below 35544 (Weekly High)

Key Highlights:

*Nifty March Futures ended 194.25 points down @ 14577.05 with a premium of 19.20 points.

*Nifty futures open interest decreased by 3.45 lakh shares with March series total open interest stands at 0.95 crore shares.

*Nifty 16000 call has highest OI, whereas 14500 put holds the highest OI and Banknifty 36000 call has highest OI and 34000 put has highest OI.

*Nifty 16000 call saw addition of 24.05 lakh shares in OI, whereas 13900 put saw unwinding of 1.44 lakh shares In OI.

*India VIX ended 0.40% down @ 20.08 against the previous close of 20.16

Technical Snapshot

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