Following a lower opening, Nifty made an attempt to hold onto the immediate minor support at 22600. However, this support eventually gave way, paving the path for further downside potential
The OI data is also reflecting the -Ve under current with increased activity from PUT writers. Total OI : CALL @ 18.2Lk (+10Lk) Vs PUTs @ 14.7Lk (+5Lk); In the past 2 Hrs, PCR lipped from 1.02 at around 11:45AM to 0.81
Money-flow Activity: Short-Buildup in CALLs seen to the tune of Rs.41Cr along with Rs.31Cr Short-Cover in PUTs Intraday Technical Sup/Res: 22490/22680
Below 22600, next support potentially around 22500, Current OI numbers are -Ve, but we're closely watching for any trading opportunities in either direction. Initiated: Buy NIFTY 18APR24 223700CE @ 100; Status: Closed @ 115 Buy NIFTY 18APR24 22700PE @ 140; Status: TGT1 @180 Done
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