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Below the Quote on Post Market Comment by Mandar Bhojane, Research Analyst, Choice Broking

The Nifty exhibited a flat to negative performance with high volatility throughout the day. Nifty has formed a neutral candlestick pattern on daily charts indicating indecisive candle. Bank nifty also encountered volatility but closed negative for the day at 51317.00 levels.

The market has traded negative with the Sensex losing 0.35 percent and closed at 80148.88 and Nifty was negative by 0.27 percent intraday and closed at 24413.50 levels also Bank Nifty closed negative, down by 0.89 percent and settled at 51317.00.

Among sectors Nifty IT, Nifty PHARMA and Nifty MEDIA ended in green while Nifty PVT BANK, Nifty FMCG and Nifty FIN SERVICE ended on the lower side. In Nifty stocks, HDFC LIFE, TECHM and BPCL were the top gainers while BAJAJ FINSERV, BRITANNIA and HEROMOTOCORP were the prime laggards.

INDIA VIX was Negative by 7.53 percent intraday and settled at 11.8000.

Index has a support around 24300-24250 zone which is also close to its 20 Day EMA levels.  Coming to the OI Data, on the call side, the highest OI observed at 24600 followed by 24700 strike prices while on the put side, the highest OI is at 24300 strike price. On the other hand, Bank nifty has support at 51000-50800 while resistance is placed at 51900 and 52100 levels.

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