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Domestic indices NSE Nifty 50 and BSE Sensex are expected to trade range-bound today, influenced by negative global sentiment and continuous selling by Foreign Institutional Investors (FIIs). In Nifty, the 22,800 Call strike shows significant open interest (OI) of approximately 60 lakh shares, while the 22,500 Put strike holds substantial OI of about 78 lakh shares. Support for the day is anticipated between the 22,400 and 22,500 levels, with resistance expected between the 22,700 and 22,800 levels.

In Bank Nifty, the 48,000 Call strike has a meaningful OI of around 22 lakh shares, while the 48,000 Put strike holds a sizeable OI of about 16 lakh shares. The daily range for Bank Nifty is projected to be between 47,500 and 48,200 levels. Overall, the medium-to-long-term outlook for the domestic market remains strong.

 

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