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Below the quote on Post-market comment by Mandar Bhojane, Research Analyst, Choice Broking 

Closing Market Summary 12th Feb 2024

Indian equity indices concluded lower on February 12, with the Nifty hovering around 21,600, as selling pressure affected various sectors except for IT and pharmaceutical companies.

On the daily chart, Nifty experienced a breakdown of the daily trendline and formed a bearish engulfing pattern with significant volume, indicating weakness in the index. The Relative Strength Index (RSI) exhibited a downward slope at 50.7, suggesting the persistence of bearish momentum. Immediate support levels are identified at 21,500-21,400, while hurdles are anticipated at 21,800 and 21,950.

Among the top losers on the Nifty were Coal India, Hero MotoCorp, BPCL, ONGC, and IndusInd Bank, while gainers included Dr. Reddy's Laboratories, Apollo Hospitals, Wipro, Divis Labs, and HCL Technologies.

The India VIX (Volatility Index) saw an intraday increase of 3.98 percent, settling at 16.06, indicating heightened market volatility.

Upon examining the Open Interest (OI) data, the call side revealed the highest OI at 21,800, followed by 22,000 strike prices. On the put side, the maximum OI was observed at the 21,500 strike price.

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