The Futures Open Interest (OI) in the Nifty indicated a buildup of fresh short positions in index futures. Call writers were seen offloading their positions at the 19,800 strike, leading to a strong down in Nifty today. A double-top structure around the 19,850 levels is visible on the daily chart. A breakdown below the previous swing low of 19,635 can intensify the selling pressure, which can take the index to 19,480 levels, said Ashwin Ramani, Derivatives and Technical Analyst, SAMCO Securities.
4 mutual fund NFOs to open for subscription this week
Four mutual fund NFOs will open for subscription this week. These funds are index funds offered by Motilal Oswal Mutual Fund. (Source: ACE MF)