Indian market is likely to consolidate on Monday tracking muted global cues.
The Nifty future closed in the negative with losses of 0.28% at 23,622 levels on Friday. India VIX closed 3% lower at 13.68 in the previous trading session.
On the options front, the maximum Call OI is placed at 24,000 and then towards 23,800 strikes while the maximum Put OI is placed at 23,000 and then towards 23500 strikes.
Call writing is seen at 24,000 and then towards 23,800 strikes while Put writing is seen at 23,200 and then towards 23,500 strikes.
“Options data suggests a broader trading range in between 23,000 to 24,000 zones while an immediate range between 23,200 to 23,800 levels,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
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