Indian market is likely to consolidate on Wednesday tracking mixed global cues.
The Nifty future closed positive with gains of 0.43% at 24,534 levels on Tuesday. India VIX fell more than 2% to close at 14.37 in the previous session.
On the options front, the maximum Call OI is placed at 25,000 and then towards 24,500 strikes while maximum Put OI is placed at 23,500 and then towards 24,000 strikes.
Call writing is seen at 24,900 and then towards 24,500 strikes while Put writing is seen at 24,400 and then towards 24,300 strikes.
“Options data suggests a broader trading range in between 24,000 to 24,900 zones while an immediate range between 2,4200 to 24,700 levels,” Chandan Taparia, Head, Equity Derivatives & Technicals, Wealth Management, MOFSL, said
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