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

After an initially flat to negative start, the Nifty concluded higher in a volatile session on February 27. At the close, the Sensex recorded a gain of 305.09 points, or 0.42 percent, reaching 73,095.22, and the Nifty rose by 76.30 points, or 0.34 percent, to settle at 22,198.30.

On the daily chart, Nifty formed a bullish engulfing pattern with significant volume, indicating bullish sentiment in the market. If the price breaks the 22,250 level, it is anticipated to reach a new all-time high in the coming days. Bank Nifty found support around the 46,300 level, forming a neutral candlestick pattern on the daily chart, suggesting a potential reversal from the bottom level. On the flip side, Bank Nifty has support at 46,300-46,200, with resistance levels at 47,000 and 47,200.

In terms of sectors, Auto, Capital Goods, Information Technology, Pharma, and Realty each saw gains ranging from 0.5 to 1 percent, while the Oil & Gas index experienced a 1 percent decline. Top gainers on the Nifty included Tata Motors, TCS, IndusInd Bank, Power Grid Corp, and Sun Pharma. Conversely, the losers were Hero MotoCorp, Bajaj Finance, SBI, Divis Labs, and UPL.

India VIX exhibited a positive intraday movement of 0.82 percent and settled at 15.72. The index has a support zone around 22,050-22,000. Looking at the Open Interest (OI) data, the highest OI was observed on the call side at 22,500, followed by 22,600 strike prices. On the put side, the highest OI is at the 22,000 strike price.

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