Indian benchmark indices closed on slightly weak note but manage to sustain above 12,000 psychological level led by shrank in GDP numbers that print at 4.5% in Q2FY20 vs. 7% in year ago. At close, the Nifty down 7.80 points or 0.06% at 12048.20 and Sensex was up 8.36 points or 0.02% at 40802.17. Overall market breadth was negative as 1095 stocks were declined and 718 stocks advanced and 347 were unchanged on NSE. Among sectoral indices, all sectors were under selling pressure. India VIX, which measures the implied volatility of Nifty 50 options, was up by 2.19% at 14.20.
According to weekly option derivatives diaries, maximum Call writing open interest of 30.91 lakh contracts was seen at the 12100 strike price, which will act as a crucial resistance level for tomorrow's trading session. However, Put writing open interest seen at 12000 strike price with 27.77 lakh contracts, which will act as a strong support.