● Nifty index had a volatile session as it drifted towards 11770 zones but it bounced back sharply over more than 100 points and settled near the opening level. It formed a Dragon Fly Doji on daily scale and Spinning top candle on weekly chart which indicates tug of war between bulls and bears
● Now it has to hold above 11888 zones to get some stability and move towards 12000 - 12041 zones while supports are seen at 11761 then 11660
● Max Put OI is at 11500 then 11000 strike while Max Call OI is at 12500 then 12000 strike. Minor Call writing is seen at 12500 then 12100 strike while Put unwinding is seen at all immediate strike price. Option data suggests a wider trading range in between 11750 to 12250 zones
● India VIX fell down by 4.86% at 14.77