After a positive start marked by a gap-up opening, the Nifty experienced a downturn, slipping below crucial support levels and concluding the session close to the day's lowest point. The Bank Nifty also traded negatively, settling below the robust 47500 support level. The overall market sentiment was bearish, with the Sensex declining by 1.30 % to close at 70506. The Nifty followed suit, registering an intraday loss of 1.41 % and closing at 21150. Bank Nifty exhibited a negative trend as well, ending the day down by 0.89 % at 47445. Across various sectors, all indicators were in the red, with Nifty PSU Bank, Nifty Metal, and Nifty AUTO witnessing the most significant losses at 4.04%, 3.82%, and 2.28%, respectively. Among Nifty stocks, ONGC, Tata Consumer Products, and Britannia emerged as top gainers, while Adani Ports, Adani Enterprises, and UPL faced notable declines. The India VIX showed a positive trend, rising by 4.18 % intraday to settle at 14.45. The Nifty index found support in the 21000-20900 zone. Examining the Open Interest (OI) data, the call side displayed the highest OI at 21500, followed by 21400 strike prices. On the put side, the highest OI was observed at the 21000 strike price. For Bank Nifty, support levels were identified at 47100-46900, with resistance at 47700 and 48000 levels.
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