Nifty closed at 25,111, facing selling near 25,250 hurdle - Religare Broking Ltd

Market Outlook
Nifty 50 closed at 25,111, registering a negative session with selling pressure observed near the immediate hurdle of 25,250. The India VIX ended at 11.24, reflecting low volatility expectations. An Advance-Decline Ratio of 0.61 highlights a bearish undertone in the market. On the derivatives front, significant Put writing witnessed at 25,000 strikes, emerges as a strong support level. On the upside, notable Call OI build-up was observed at the ATM strikes of 25,150 and 25,200. Any decisive breakout from the consolidation zone of 25,000 to 25,250 could potentially trigger an intraday rally of nearly 200 points.
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