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

On the daily chart, the Nifty is taking support from a rising trend line and has formed a bearish candle. The Nifty has strong support near the 24,800 level. If it breaks this level, it could potentially correct down to 24,600 and 24,400 in the short term. On the flip side, 25,200 acts as a resistance level, and the price may remain sideways within a wide range of 24,800 to 25,200.

Among sectors, the Nifty Oil & Gas Index was the biggest loser, down 2%, followed by the Nifty PSU Bank and Nifty Metal, which fell 1.8% and 1.5%, respectively. Nifty Auto and Realty also declined by 1.2% each. On the upside, the Nifty FMCG was the top gainer, rising 0.3%.

The India VIX increased by 6.16 percent intraday, settling at 13.6275, indicating increasing volatility. The index has support around the 24,800 level. In the Open Interest (OI) data, the highest OI on the call side was observed at the 25,100 and 25,200 strike prices, while on the put side, the highest OI was at the 24,700 strike price.

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