Indian markets may consolidate on Tuesday following mixed global cues. The Sensex gained over 300 points with Nifty50 closing just below 18600 levels. India VIX rose 3.34% from 11.90 to 12.29 on Monday, indicating some consolidation in record-high index levels amid the start of the new series. Options data reveals a potential trading range of 18300 to 18800 zones, with minor call writing seen at 18700 to 18800 strikes, and put writing at 18400 to 18300 strikes. Several experts recommend short-term trades in select companies.
Tech View: Nifty forms bullish engulfing candle. What should traders do on Friday
Analysis of Nifty Put options indicates a concentration of Open Interest (OI) at the 22,500 level, suggesting potential support. On the Call side, significant OI
April 25, 2024