Following a subdued start, the Nifty exhibited volatility today, achieving a record peak of 21834.35 before undergoing a correction, ultimately concluding the session just above the crucial 21700 support mark. Bank Nifty also experienced a retreat but found support near 48000, managing to close above the mentioned support level. The market displayed a flat to positive trend, with the Sensex gaining a marginal 0.04% to settle at 72271. The Nifty saw a 0.05% intraday increase, closing at 21741, while the Bank Nifty closed in the negative territory, down by 0.12%, settling at 48234. Among the sectors, Nifty PSU Bank, Nifty Media, and Nifty IT concluded in positive territory, whereas Nifty Auto, Nifty Consumption, and Nifty Fin Services ended on a downtrend. In individual Nifty stocks, Nestle, Adani Enterprise, and Adani Ports emerged as the top gainers, while Eicher Motors, Bharti Airtel, and M&M were notable laggards. The INDIA VIX showed a positive movement of 1.24% intraday, settling at 14.68.The index is well-supported in the 21600-21500 zone. Examining the Open Interest (OI) data, the call side displayed the highest OI at 22000, followed by 21800 strike prices. Conversely, on the put side, the highest OI was observed at the 21700 strike price. For Bank Nifty, support levels are identified at 48000-47900, with resistance positioned at 48450 and 48600 levels.
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