Post-market comment by Mandar Bhojane, Choice Broking
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Below the Quote on Post-market comment by Mandar Bhojane , Research Analyst, Choice Broking Ltd
The Indian equity market concluded with a marginal decline following a volatile session. At the close, the Sensex dropped by 110.64 points or 0.15 percent to reach 73,903.91, while the Nifty slipped by 8.70 points or 0.04 percent, settling at 22,453.30.
On the daily chart, the Nifty formed a doji candle, indicating indecision among traders. However, the fact that Nifty is trading above the 22,450 level suggests a degree of price stability. If the price manages to sustain above the 22,520 level, it could potentially extend its rally towards 22,700 and 22,800 levels in the upcoming days. Conversely, immediate support levels are seen at 22,350 and 22,300.
Analysis of the Open Interest (OI) data highlights the highest OI on the call side at the 22,700 strike price, followed by the 22,800 strike price. On the put side, the highest OI was observed at the 22,300 strike price.
In terms of sectoral performance, realty, metal, oil & gas, media, power, and auto sectors witnessed gains of 1-2 percent, while Information Technology and Telecom indices experienced a decline of 0.5 percent each. Additionally, the BSE midcap and smallcap indices surged by 1 percent each.
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