IGI Logo

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

In a volatile session, the Indian benchmark indices ended on a positive note, with the Nifty closing above 22,200 and reaching a lifetime high of 22,252.50. At the close, the Sensex recorded a gain of 535.15 points or 0.74 percent, closing at 73,158.24, while the Nifty was up by 162.50 points or 0.74 percent, closing at 22,217.50.

The Nifty's daily chart formed a significant bullish hammer at the top with a long wick, accompanied by substantial volume, signaling strong bullishness. If the price breaches the 22,250 level, there is potential for a further move towards 22,400 and 22,500. On the flip side, the immediate support for the Nifty is identified at 21,900.

On the sectoral front, auto, capital goods, metal, power, information technologies, and telecom were up 1 percent each. However, the bank index ended marginally lower. BSE Midcap and Smallcap indices added 0.5 percent each.

Top gainers on the Nifty included Bajaj Auto, HCL Technologies, Eicher Motors, ITC, and Coal India, while the losers were IndusInd Bank, HDFC Bank, BPCL, Kotak Mahindra Bank, and Hero MotoCorp.

Upon scrutinizing the Open Interest (OI) data, the call side revealed the highest OI at 22,400, followed by the 22,500 strike prices. On the put side, the maximum OI was observed at the 22,000 strike price.

Above views are of the author and not of the website kindly read disclaimer