Indian benchmark indices are in bull's grip after Finance Minister Nirmala Sitharaman on Wednesday said the government would set up an alternative investment fund worth Rs 25,000 crore to provide relief to developers with unfinished projects has improved market sentiments followed by supportive global cues. At close, Nifty ended at 12016.10 while Sensex ended 215.02 points higher or 0.53 percent at 40684.80. Overall market breadth was positive as 845 stocks were declined and 943 stocks advanced and 358 were unchanged on NSE. India VIX, which measures the implied volatility of Nifty 50 options, was 4.24% down at 15.10.
According to weekly option derivatives diaries, maximum Call writing open interest of 5.75 lakh contracts was seen at the 12100 strike price, which will act as a crucial resistance level for tomorrow trading session. However, Put writing open interest seen at 11900 strike price with 8.54 lakh contracts, which will act as a strong support.