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

The Nifty exhibited a positive performance with high volatility throughout the day after bounce back from the strong support 21830 levels. Nifty has formed a hammer pattern on daily charts near support levels indicating Bullish reversal. Bank nifty also encountered volatility and closed positive for the day near today’s high at 47754.10

The market has traded positive with the Sensex gaining 0.15 percent and closed at 72776.13 and Nifty was positive by 0.22 percent intraday and closed at 22104.05 levels also Bank Nifty closed positive, up by 0.70 percent and settled at 47754.10.

Among sectors Nifty PHARMA, Nifty METAL and Nifty REALTY ended in green while Nifty ENERGY, Nifty PSU BANK and Nifty AUTO ended on the lower side. In Nifty stocks, CIPLA, ASIANPAINTS and ADANI PORTS were the top gainers while TATA MOTORS, BPCL and NTPC were the prime laggards.

INDIA VIX was Positive by 11.52 percent intraday and settled at 20.6000.

Index has a support around 21800-22000 zone.  Coming to the OI Data, on the call side, the highest OI observed at 22300 followed by 22500 strike prices while on the put side, the highest OI is at 22000 strike price. On the other hand, Bank nifty has support at 47200-47000 while resistance is placed at 48200 and 48500 levels.

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