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Below the Quote on Post Market Comment by Hardik Matalia, Derivative Analyst, Choice Broking

On August 29th, the Indian benchmark indices traded highly volatilely and ended in positive territory. The Sensex closed up 349.05 points or 0.43 percent at 82134.61, while the Nifty was up by 99.60 points or 0.40 percent at 25151.95.

Analysing the daily chart, the Nifty Index reached a new all-time high of 25,192.90 and closed near this record level after a highly volatile session. It experienced a significant intraday bounce from the 25,000 level, indicating strong support at this level. The closing above the 25,150 level suggests the potential for further upside, with targets of 25,300 and 25,500 levels in the coming sessions.

In sector performance, FMCG, Energy, Auto, and IT sectors showed gains of 0.5-0.75 percent, supporting the upward movement. However, the Metals, Pharma, and Media sectors experienced a decline of 0.3-0.5 percent. The broader indices, including the BSE Midcap and Smallcap, saw selling pressure at higher levels, ending slightly lower.

The India VIX declined by 1.16 percent to 13.7875, indicating reduced market volatility and increased investor confidence, which could support further market gains. Open Interest (OI) data showed the highest OI on the call side at the 25,300 and 25,500 strike prices, while on the put side, it was concentrated at the 25,000 strike price.

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