Indian market is likely to trade lower on Friday tracking muted global cues.
The Nifty future closed negative with losses of 0.81% at 24,845 levels on Thursday. INDIA VIX surged by 2.56%, settling at 13.39, indicating a jump in market volatility.
On the options front, the maximum Call OI is placed at 25,000 and then towards 26,000 strikes while maximum Put OI is placed at 23,500 and then towards 24,000 strikes.
Call writing is seen at 25,000 and then towards 26,000 strikes while Put writing is seen at 23,500 and then towards 24,800 strikes.
“Options data suggests a broader trading range in between 24,300 to 25,300 zones while an immediate range between 24,500 to 25,000 levels,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
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