Post-market comment by Mandar Bhojane, Choice Broking
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Below the Quote on Post-market comment by Mandar Bhojane, Choice Broking
On April 23, Indian equity indices extended their gains for the third consecutive session, with the Nifty hovering around 22,350. By close, the Sensex had risen by 89.83 points or 0.12 percent to reach 73,738.45, while the Nifty climbed by 31.60 points or 0.14 percent to settle at 22,368.
The trading day saw the Nifty opening with a gap up amidst initial volatility. Throughout the session, the index traded sideways within the range of 22,350 to 22,440 levels, forming a bearish candle on the daily chart, indicating profit booking and price stability. Nifty found robust support at the 22,300 and 22,200 levels, while facing immediate resistance at 22,500 and 22,600 levels.
The INDIA VIX exhibited negative movement, declining by 19.72 percent intraday to settle at 10.1950.
Analyzing the Open Interest (OI) data, the highest OI on the call side was observed at the 22,500 followed by the 22,600 strike prices. Conversely, on the put side, the highest OI was recorded at the 22,100 strike price.
During the trading session, the Chemical and Railway sectors regained momentum by breaking through their congestion zones. Market participants showed more interest in broader markets, as Mid and Small Caps surged over 1%, outperforming the Frontline Index.
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