Kal pe Nazar (18-April-2024) Commencing with a gap-down openi | Kotak Securities

Kal pe Nazar (18-April-2024)

Commencing with a gap-down opening, the Nifty traded within a narrow range of 22080-22215 throughout the entirety of the trading session. Ultimately, it concluded the day with a negative sentiment, registering a loss of 0.56 percent.

Despite outperforming compared to the Nifty 50, the Nifty Midcap 100 index settled with a marginal loss of 0.09 percent.

Among a range of sectors, Energy and Media stood out as top performers, exhibiting strength. Conversely, IT and PSU Banks lagged behind, facing hurdles and displaying weaker performance throughout the trading session.

The options market indicates that the highest open interest on the call side is at 22500 level, while on the put side, its at 22000. Looking at today's option chain, we observe a greater amount of call writing activity compared to put writing, signaling a bearish sentiment in the market.

The Volume Weighted Average Price (VWAP) suggests a trading range for the next day between 22035 and 22265. The Max Pain is seen at 22200 spot with the CE/PE Combined Residual Premium/Pain Value of 434.62 Crores.

In the cash market, Foreign Institutional Investors (FIIs) were net seller with an activity totaling 4468.09 crore, while Domestic Institutional Investors (DIIs) exhibited a net buying activity of 2040.38 crore.

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Source: www.nseindia.com