● Nifty index opened positive in line with the momentum of last Friday and headed towards 11950 zones. It has given a highest ever daily close and trading 100 points away from its life time high of 12041 levels. It formed a Bullish Candle with higher lows on daily scale but traded inside the trading range of Election result day
● Now it has to continue to hold above 11850 zones to extend its move towards 12000 then 12040 zones while support is seen at 11761 levels
● Max Put OI is at 11000 then 11700 strike while Max Call OI is at 12500 then 12000 strike. Put writing is seen at 11800 then 11900 strike while minor Call writing is seen at 12300 then 12100 strike. Option band signify a trading range between 11700 to 12100 zones
● India VIX fell down by 1.70% at 16.19 levels. Decline in VIX suggests that now short term stability and formation of higher base is seen in the market