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

Indian benchmark indices experienced a volatile trading session, with significant selling pressure following a gap-down opening, closing near 25,250 levels. The Sensex dropped by 1,769.19 points, or 2.10% lower, to end at 82,497.10, while the Nifty fell by 546.80 points, or 2.12% lower, closing at 25,250.10.

On the daily chart, the Nifty index faced selling pressure for the fourth consecutive day, closing near the 25,250 mark. A bearish candle has formed, signaling continued weakness. The current trend indicates a "sell on rise" strategy, with fresh buying suggested only if the index moves above the 26,000 zone. Immediate support is seen at 25,000, followed by 24,750, while 25,500 is expected to act as the immediate resistance. Traders should closely monitor these key levels, as a break below support could trigger further downside, while resistance at 25,500 may cap any short-term recovery attempts.

On the sectoral front, Realty, Auto, Energy, and Financials were major laggards, declining between 2.43% and 4.36%, dragging the market lower. Broader indices also traded in the red, with the Nifty Midcap 100 index down by 2.21% and the Nifty Small Cap 100 index down by 1.96%.

The India VIX increased by 9.86% to 13.1700, indicating a rise in market volatility and heightened investor uncertainty. This spike suggests traders expect larger price swings in the near term, contributing to cautious sentiment and potential short-term pressure on the broader market. Open Interest (OI) data revealed the highest OI on the call side at the 25,500 and 25,600 strike prices, while on the put side, it was concentrated at the 25,200 and 25,000 strike prices.

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