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The Indian equity market started the day on a negative note that too

with a gap-down opening, taking cues from the adverse effect of rising

bond yield and its repercussions on the global equity market. Post the

opening bell, the key indices remained under pressure with no sign of

respite or a pullback. However, by the penultimate hour, a modest

resurgence was seen from the lows which pared down some of the

losses. Eventually, the Nifty50 index concluded the day a tad

end indicates the bulls are not out yet and any relief could augur well

from hereon. On level specific, the zone of 19350 is likely to cushion

any further blip, while a breach could bring the previous runaway gap

of 19200 very much in the vicinity. On the flip side, the pivotal zone

of 19500 should now be acting as the immediate hurdle for the index.

While the sacrosanct resilience is placed around the 19700 odd zone,

Support 2 – 19200 Resistance 2 – 19640

Traders are advised to closely monitor these levels when making

trading decisions, but it's important to exercise caution as volatility

is expected to be elevated ahead of the key event and should avoid

undue risk.

Key Levels

Support 1 – 43500 Resistance 1 – 44250

the tune of Rs. 4424 cr. Simultaneously, they sold

worth Rs. 560 cr in Index futures with the rise in open

interest, indicating the addition of fresh shorts.

the banking index. On the options front, significant

PE writing at 19300-19400 strikes, suggests this

range may provide immediate support. On the

higher end, 19500- 19600 call strike have attracted

substantial open interest. Meanwhile, the selling

index future segment. Hence, the LSR declined

and Bank Nifty futures open interest has increased by

27.70% as the market closed at 19436.10.

33.15 points against 42.75 points in the last trading

session. The November series closed at a premium of

153.95 points.

the same time, the PCR-OI of Nifty has increased from

0.91 to 0.96.

19000

19200

19400

9,000

13,000

Instrument

Index Options

Stock Futures

Stock Options

Sell

Buy

Sell

Buy

Buy 19500 222.90

,0

1000,000

2000,000

3000,000

4000,000

5000,000

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