- US Markets closed sharply on higher side
- Asian markets trading positive
- SGX Nifty indicating positive opening with 50 points gain
- FIIs net sold shares worth Rs 1,209.82 crore while DIIs net bought shares worth Rs 1,404.89 crore
- Yesterdays high of 16,936 is now very crucial markets in the last hour fell very sharply and Bank Nifty lost all of its gains
- Looking at OI 17,000 has the highest call writing indicating stiff resistance
- 16,800 and 16,900 still has significant call open interest
- Yesterday it was all about short covering and markets to move it needs good delivery based buying which is not happening at the moment
- Nifty IT index looks strong and better as compared to other sectors