The Indian benchmark indices closed on a positive note for the second consecutive day ahead of the crucial meeting with FM today. At close, Nifty was up 77.20 points at 11,109.70 while Sensex was up 254.55 points at 37,581.91. Overall market breadth was positive where 608 stocks were declined and 1132 stocks advanced and 349 were unchanged on NSE. The India VIX, which measures the implied volatility of Nifty 50 options, was down 1.83% to 15.79.
According to weekly option derivatives diaries, maximum Call writing open interest of 11.61 lakh contracts was seen at the 11200 strike price, which will act as a crucial resistance level for next trading session. However, Put writing open interest seen at 11100 strike price with 12.46 lakh contracts, which will act as a strong support.