Stocks to buy today: BSE, Indus Tower among top 7 trading ideas for 16 January 2025
India VIX, the market's barometer for volatility, dipped by 1.1% to 15.30, indicating easing investor apprehension. Experts suggest that historically, VIX levels above 15 imply heightened market turbulence.
Derivatives data presents a cautious market sentiment as call writers held sway, reflecting investor wariness. Open interest at the 23,300-strike call surged to 1.49 crore contracts, marking it as a key resistance zone. Meanwhile, the 23,200-strike put amassed 1.16 crore contracts, underscoring critical support.
“Intense activity between the 23,200 and 23,300 strikes suggests a standoff between bulls and bears. The swelling in call positions signals a formidable ceiling for upward moves,” said Dhupesh Dhameja, Derivatives Analyst at SAMCO Securities.
“The Put-Call Ratio (PCR) eased to 0.72 from 0.79, reflecting a restrained yet stabilizing market mood. The 'max pain' level at 23,300 hints at limited downside potential for the near term,” he added.
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