After a flat start, the Nifty remained range-bound through the session but last-hour selling dragged it lower. The index closed 72.70 points, or 0.37 percent, lower at 19,672.30, forming a small bearish candle.
"The index has completed one leg of technical correction but a fresh uptrend rally is possible only after the dismissal of 19,750. Below the same, the market can slip till 19,600-19,575. On the other side, above 19,750 the index can rally till 19,800-19,835,” said Shrikant Chouhan, Head of Research (Retail), Kotak Securities.
On the open interest (OI) front, on the call side, the highest OI was observed at 19,800 followed by 19,900 strike prices, while on the put side, the highest OI was at 19,500 strike.
"The index has completed one leg of technical correction but a fresh uptrend rally is possible only after the dismissal of 19,750. Below the same, the market can slip till 19,600-19,575. On the other side, above 19,750 the index can rally till 19,800-19,835,” said Shrikant Chouhan, Head of Research (Retail), Kotak Securities.
On the open interest (OI) front, on the call side, the highest OI was observed at 19,800 followed by 19,900 strike prices, while on the put side, the highest OI was at 19,500 strike.