January 02, 2024 / 11:08 AM IST
Shrey Jain, Founder and CEO SAS Online:
The domestic equity benchmarks commenced Tuesday’s session in the red, influenced by mixed global market cues and a notable occurrence of profit booking at higher levels.
Options interest (OI) data reveals that the call side has the highest OI at 22,000, followed by 21,800 strike prices. On the put side, the maximum OI is observed at the 21,700 strike price. Support for the Nifty50 index is anticipated to emerge at levels between 21,600 and 21,675, with a robust buy zone expected at 21,500-21,600.
Concerning Nifty Bank, support is predicted to be present at levels ranging from 47,925 to 48,075, with a strong buy zone identified in the 47,725-47,850 range
