Hot Stocks: Balrampur Chini could give up to 20% return in the next 1-3 months
Episode 2076, Jan 02, 2020, 02:00 AM
Nifty closed at 12,183 levels up by 0.12 percent on Wednesday. But, the broader market indices BSE Midcap and Smallcap outperformed the benchmark with a gain of 0.21 percent and 0.64 percent respectively for the day.
The market breadth on the NSE was positive with an advance-decline ratio of 4:3. For the last couple of weeks, the Nifty is facing resistance around 12,300 levels and is trading below it.
Thus, 12,300 needs to be taken out for the rally to continue towards 12,500-12,600 levels. On the downside, immediate support is seen at 12,100 breakings below which correction towards 11,940 levels can be seen.
In Nifty December monthly expiry options, maximum open interest for Put is seen at strike price 12,000 and 11,500; while for Call maximum open interest is seen at 12,500 followed by 12,200.
Call writing was seen in the immediate strike price which suggests overhead resistance for the market. India VIX closed at 11.60 down by 0.6 percent for the day.
The market breadth on the NSE was positive with an advance-decline ratio of 4:3. For the last couple of weeks, the Nifty is facing resistance around 12,300 levels and is trading below it.
Thus, 12,300 needs to be taken out for the rally to continue towards 12,500-12,600 levels. On the downside, immediate support is seen at 12,100 breakings below which correction towards 11,940 levels can be seen.
In Nifty December monthly expiry options, maximum open interest for Put is seen at strike price 12,000 and 11,500; while for Call maximum open interest is seen at 12,500 followed by 12,200.
Call writing was seen in the immediate strike price which suggests overhead resistance for the market. India VIX closed at 11.60 down by 0.6 percent for the day.