The Nifty 50 closed the day at 24620, traded sideways to slightly positive side for the whole day- Religare Broking
Market Outlook
The Nifty 50 closed the day at 24620, traded sideways to slightly positive side for the whole day. The India VIX ended at 14.7. The Advance-Decline Ratio is 1.77, indicating bullish trend. Derivative data indicates a sideways sentiments as we observed Increase in OI build up for both ATM Call and Put options for current expiry. The options data suggests a mildly bearish to neutral outlook. While the price action is negative, put writers expect the downside to be limited, indicating potential consolidation or support nearby 24500.
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