On option front, maximum put open interest was seen

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uk canada goose outlet The Nifty has gradually been moving higher, with the bulls having the upper hand, but it has been quite volatile in the last three to four sessions which indicates that the index could be waiting for major breakout on either side, experts told Moneycontrol."Considering the price behaviour of the lastfour trading sessions, it appears that the Nifty is awaiting either a breakout or breakdown, which shall usher in a swift move based on the direction of breakout,"he added.Mohammad said thatwhile the technical oscillators are only pointing to the market's overbought nature without any accompanying sell signals, a sideways move could be expected going forward unless the Nifty registered a strong close above 10,886 levels. "In that scenario, strength may get extended to 11,250 levels."On the downside, if the index closes below 10,690, then it will confirm the weakness, thereby triggering a fresh leg of downswing, with initial targets placed around 10,500 levels, he added.On option front, maximum put open interest was seen at 10,000, followed by 9,500 strikes, while maximum call OI was seen at 11,500, followed by 11,000 strikes. Call writing was seen in 11,200, then 11,300 strikes while put writing was seen at 10,500 then 10,700 strikes.Option data suggests an immediate trading range for the Nifty could be between 10,400 and 11,060 levels.Bank Nifty managed to hold 22,000 in morning trade and witnessed a strong move towards 22,700 by surpassing its previous hurdle of 22,500 in afternoon trade. uk canada goose outlet

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