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

On the daily chart, the Nifty index formed a full-bodied bullish candle, with the open near the day's low and the close near the day's high, showing no upper or lower wicks. This reflects strong buying momentum throughout the session, indicating that bulls were in complete control. If the index sustains above key resistance levels, it could confirm further upside potential, whereas any failure to hold gains may lead to consolidation or a pullback. On the downside, 22,800 serves as a key support level, and a break below this mark could trigger further selling toward the 22,700–22,500 range. On the upside, immediate resistance is seen at 23,000, with a critical hurdle near 23,200. To pause the current downtrend, the Nifty must sustain above 23,200, followed by a move toward 23,500. Given the heightened volatility, traders are advised to maintain strict stop-loss measures and avoid overnight positions to protect capital. 

On the sectoral front, the Metal, Energy, PSU Bank, and Auto sectors posted gains, rising between 1.22% and 1.96%. In contrast, the Financial Services, Pharma, and IT sectors saw notable declines, with losses ranging from 0.14% to 0.75%. The broader market indices witnessed strong buying, with the Nifty Midcap 100 index rising by 1.26% and the Nifty Smallcap 100 index surging by 1.43%. 

The India VIX declined 4.78% to 14.6825, reflecting reduced market volatility and a decrease in fear among traders. This indicates improved investor confidence and a more stable trading environment. Open Interest (OI) data shows the highest OI on the call side at the 23,000 and 23,200 strike prices, highlighting strong resistance levels. On the put side, OI is concentrated at the 22,800 strike price, marking it as a key support level.

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