● Nifty index remained highly volatile throughout the session and traded in wider range of 100 points between 11800 to 11900 zones on its June monthly expiry day. It formed a Spinning top kind of candle at it failed to hold at higher levels but forming higher highs – higher lows from previous two trading sessions which suggests dips are being bought into at lower zones
● Now it has to continue to hold above 11761 zones to extend its move towards 11929 then 12000 zones while support are seen at 11761 then 11720 levels
● On the option front, for the July series option data is scattered at various strikes since it’s the beginning of new series. Maximum Put OI is at 11500 then 11000 strike while Max Call OI is at 12000 then 12500 strike. We have seen Put writing at 11800 and 11600 strikes while Call writing is seen at 12400 and 12500 strikes. Option data suggests a wider trading range in between 11650 to 12250 zones
● India VIX fell down by 1.55% at 14.52