Post-market comment by Mandar Bhojane, Research Analyst, Choice Broking
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Below the Quote on Post-market comment by Mandar Bhojane, Research Analyst, Choice Broking
Indian benchmark indices ended marginally higher in a volatile session on June 24. At close, the Sensex was up 131.18 points or 0.17 percent at 77,341.08, and the Nifty was up 36.70 points or 0.16 percent at 23,537.80.
On the daily chart, Nifty formed a bullish piercing candlestick pattern with good volume, indicating a bullish reversal from the support level of 23,400. If the index closes above the 23,600 level, it could further rise to 23,800 and 24,000 levels in the upcoming days. On the flip side, if the price breaks the 23,300 level, it could correct further to the 23,000 level.
Among sectors, capital goods, auto, FMCG, telecom, and power indices were up 0.5-1 percent, while metal, oil & gas, PSU Bank, and media were down 0.5-1 percent. The BSE midcap and smallcap indices added 0.3 percent each.
The India VIX, which measures market volatility, increased by 14.05 percent intraday, settling at 14.0575, indicating reduced market fear. Regarding the Open Interest (OI) data, on the call side, the highest OI was observed at the 23,700 and 24,000 strike prices. On the put side, the highest OI was at the 23,000 strike price.
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