Post Market Comment by Mandar Bhojane, Research Analyst, Choice Broking
Below the Quote on Post Market Comment by Mandar Bhojane, Research Analyst, Choice Broking
Indian benchmark indices ended higher in a volatile session on June 20. The Sensex was up 141.34 points or 0.18 percent at 77,478.93, and the Nifty was up 51 points or 0.22 percent at 23,567.
The Nifty has been trading in the 23,400 to 23,700 range for the last five consecutive days and has formed an inside candle on the daily chart, indicating a sideways trend. If the price closes above the 23,700 level, it could further rise to the 23,800 and 24,000 levels. Conversely, the 23,400 and 23,300 levels will act as immediate support.
Selling was seen in the auto, pharma, and PSU banks sectors, while buying was observed in the metal, capital goods, realty, and oil & gas sectors. The BSE midcap index rose 0.5 percent, while the smallcap index added 1 percent.
The India VIX, which measures market volatility, decreased by 2.68 percent intraday, settling at 13.3450, indicating reduced market fear. Regarding the Open Interest (OI) data, on the call side, the highest OI was observed at the 24,000 and 24,200 strike prices. On the put side, the highest OI was at the 23,000 strike price.
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