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The S&P BSE Sensex fell more than 300 points while the Nifty50 closed below 19300 levels on Friday.
India VIX was up by 3.27% from 11.70 to 12.08 levels in the previous session. Volatility has spiked and moved in swings in the week.
On the monthly options front, the maximum Call OI is placed at 19500 and then towards 19300 strikes while the maximum Put OI is placed at 19000 and then towards 19300 strikes.
Call writing is seen at 19300 then 19400 strikes while Put writing is seen at 19200 then 19100 strikes.
“Options data suggests a broader trading range in between 19100 to 19600 zones while an immediate trading range in between 19100 to 19400 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a small-bodied candle on the daily frame and broke its higher highs formation of the last four sessions on Friday.
