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Below the Quote on Post-Market Comment by Deven Mehta, Research Analyst, Choice Broking

The Nifty exhibited a neutral to negative performance with high volatility throughout the day after a gap up opening. Bank nifty also encountered volatility but closed flat for the day. Bank Nifty managed to close above the strong support of 48800 levels.

The market has traded flat with the Sensex gaining 0.02 percent and closed at 73895.54 and Nifty was negative by 0.15 percent intraday and closed at 22442.70 levels whereas Bank Nifty closed flat to Negative, down by 0.06 percent and settled at 48895.30.

Among sectors Nifty IT, Nifty PHARMA and Nifty FMCG ended in green while Nifty PSU BANK, Nifty METAL and Nifty MEDIA ended on the lower side. In Nifty stocks, BRITANNIA, KOTAK MAHINDRA and TCS were the top gainers while TITAN, ADANI ENTERPRISE and BPCL were the prime laggards.

INDIA VIX was Positive by 13.56 percent intraday and settled at 16.6000.

Index has a support around 22350-22250 zone.  Coming to the OI Data, on the call side, the highest OI observed at 22500 followed by 22700 strike prices while on the put side, the highest OI is at 22500 strike price. On the other hand, Bank nifty has support at 48700-48500 while resistance is placed at 49200 and 49500 levels.

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