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

On April 9, Indian benchmark indices struggled to maintain their record levels and ended the volatile session with marginal losses. The Sensex closed down by 58.80 points or 0.08 percent at 74,683.70, while the Nifty ended down by 24.50 points or 0.11 percent at 22,641.80.

The Nifty, after hitting an all-time high, encountered resistance near the 22,800 level and formed a bearish candlestick pattern, indicating profit booking from the higher side. Immediate support for the Nifty is seen near the 22,500 level, with potential further declines to 22,400 and 22,200 levels on the downside. On the flip side, the 22,800 mark acts as a major resistance, and if broken, the index may rally towards the 23,000 level in the coming days.

Major gainers included Apollo Hospitals, Hindalco Industries, ICICI Bank, Infosys, and Bajaj Finserv, while losers comprised Titan Company, Hero MotoCorp, Coal India, Reliance Industries, and Asian Paints.

Sector-wise, media, auto, capital goods, and FMCG sectors witnessed declines of 0.5-1 percent, whereas metal and realty sectors saw gains of 0.5 percent each. Both the BSE Midcap and Smallcap indices ended in negative territory.

Analyzing the Open Interest (OI) data, the call side showed the highest OI at the 22,800 level, followed by the 23,000 strike prices. On the put side, the highest OI was observed at the 22,500 strike price. The India VIX experienced a negative intraday movement of 2.20 percent, settling at 11.3550.

Shifting focus to Bank Nifty, it has support levels at 48,500-48,300, while resistance is positioned at 49,000-49,300 levels.

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