The Nifty50 index opened flat on Thursday to gradually extend its gains towards the 10,800 mark. Recently, it took support at the previous swing low of 10,585. The index has been forming higher highs and lows for last two sessions and formed a bullish candle on the daily scale on Thursday. Now, it has to hold above the 10,750 mark to extend its gains towards 10,820 and then 10,888 levels, while on the downside support exits at 10,680 level.
On the options front, maximum Put open interest India VIX fell 6.78 per cent to 15.89 level. VIX now needs to hold below 16.50-16 zone to get short-term stability in the market.
Bank Nifty has been forming higher lows for last three sessions and managed to hold above 27,000 on Thursday. It formed a Bullish Candle on the daily scale, which suggests dips are being bought into. Now it has to sustain above 27,000 to extend its gains towards 27,350 and then 27,500 levels, while on the downside, supports are seen at 26,850 and then 26,666 levels.
Nifty futures closed positive at 10,807 with a gain of 0.51 per cent. Long buildup was seen in Apollo Hosp, CanFin Homes, Repco Home and Tech MahindraNSE 1.02 % while shorts were seen in YES BankNSE -1.24 %, Torrent Power, Concor and Godrej Industries.
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