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
On June 10, Indian benchmark indices ended flat to negative after reaching an all-time high.
The Nifty, after a gap-up opening, made an all-time high at the 23,411.90 level. However, after a volatile session, it finally settled at the day's low, below the 23,250 level. If the price closes below the 23,200 level, it may see further correction down to the 23,100 and 23,000 levels. On the flip side, if the index closes above the 23,350 level, it could reach a new all-time high near 23,500 and above. The market is expected to remain sideways and volatile within the 23,100 to 23,400 range.
Selling was observed in the auto, IT, and metal sectors, while buying was seen in the power, realty, and healthcare sectors.
The India VIX, which measures market volatility, decreased by 2.71 percent intraday, settling at 16.425, indicating reduced market fear. Regarding the Open Interest (OI) data, on the call side, the highest OI was observed at the 23,500 and 24,000 strike prices. On the put side, the highest OI was at the 23,000 strike price.
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