Nifty future closed positive with gains of 0.45% at 25097 levels on Tuesday. India VIX was down by 6.18% from 14.24 to 13.36 levels.
On the options front, the maximum Call OI is placed at 26,000 and then towards 25,100 strikes while the maximum Put OI is placed at 25,000 and then towards 24,600 strikes.
Call writing is seen at 25,100 and then towards 25,050 strikes, while Put writing is seen at 25,000 and then towards 24,600 strikes.
“Options data suggests a broader trading range in between 24,600 to 25,600 zones, while an immediate range between 24,900 to 25,300 levels,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a small-bodied bullish candle on the daily frame on Tuesday with long shadows indicating swings but negated its lower highs formation of the last two sessions,” he said.
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“Now the index has to hold above 25,000 zones for an up move towards 25,200 then