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
Benchmark indices concluded lower in a volatile session on February 26, with the Nifty closing below 22,150. At the end of the trading day, the Sensex recorded a decline of 352.67 points or 0.48 percent, settling at 72,790.13, while the Nifty was down by 90.70 points or 0.41 percent, closing at 22,122.
The Nifty exhibited daily trading within the range of 21,900 to 22,250, suggesting a sideways to bullish trend. If the price surpasses the 22,250 level, it may lead to further upward movements towards 22,400 and 22,500. Conversely, the immediate support for the Nifty is identified at 21,950.
In terms of sectoral performance, Information Technology and Metal experienced a 1 percent decline each, while Bank and Pharma saw a 0.5 percent decrease. On the positive side, oil & gas, power, and capital goods witnessed gains ranging from 0.5 to 1 percent. The BSE Midcap index registered a 0.4 percent loss, whereas the Smallcap index ended the day on a flat note.
Upon analyzing the Open Interest (OI) data, the call side showed the highest OI at 22,300, followed by the 22,500 strike prices. On the put side, the maximum OI was observed at the 22,000 strike price.
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