Maximum Put writing was seen at the strike price of 10,100, which saw the addition of 6.94 lakh contracts, followed by 10,200, which added 5.62 lakh contracts and 10,400.Nifty 50 which started with a gap down opening on Friday morning recouped some of its losses and closed significantly higher, making a bullish candle on intraday charts.
closed below its crucial support placed around 10,500 but above its crucial 100-day exponential moving average (DEMA) placed at 10,400 levels.
The positive takeaway from this week is the fact that the Indian market has manages to close significantly higher than its opening level which suggests accumulation at lower levels.Nifty which opened at 10,416, slipped to an intraday low of 10,398. It bounced back after hitting its 100-DMA to close the week 121 points lower at 10,454.vulnerable to bouts of volatility emanating from global financial markets as another day has ended with a huge gap down. It has signed off the week with a small bearish candle formation on the charts.