The index closed at 11,428.30 levels, with a marginal gain of 0.38% or 43.25 levels. BPCL, Bajaj Finance and ZEEL were top gainers while major metal stocks and Heromoto Corp were top losers. On sectorial upfront, all indices were trading mixed while tech-savvy stocks gained 1.01%.
Nifty50 futures is likely to remain in a range of 11,335.47 -11,631.73 levels as per the daily volatility of 1.29 levels. Formation of ‘Dragonfly Doji’ candlestick pattern on daily scale, slippages in daily volatility and heavy addition to Put Writing at 11,450 and 11,400 levels are showing no signs of weakness in the counter. A breach of 11,480 levels will trigger the formation of ‘Dragonfly Doji’ candle stick pattern and activate more buyers to a high of 11,550 and 11,600 levels.
Maximum Call open interest of 21.89 lakh contracts was seen at the 11500-strike price. Call option suggest 11500 will be next hurdle. Maximum Put open interest of 26.2 lakh contract was seen at the 11400-Strike price. Put option suggest 11400 will act as a support.