As mentioned in earlier post 8655 is the tough resistance zone which the Index could not cross today and witnessed selling pressure during the closing session of the market. It found support at the mentioned level of 8576 and finally closed at 8590.65 i.e. below 8600 level.
Liquidation was seen at 8500 & 8550 PE strikes though no major addition was seen at 8550 CE strike. 8600 CE is having total OI of 44.88 lac whereas total OI at 8600 PE is 26.46 lac. 8500 PE strike has total OI of 48.55 lac. VIX closed at 15.62 and PCR declined to 0.9. So the broad range of July Series seems to be 8500-8600.
Liquidation was seen at 8500 & 8550 PE strikes though no major addition was seen at 8550 CE strike. 8600 CE is having total OI of 44.88 lac whereas total OI at 8600 PE is 26.46 lac. 8500 PE strike has total OI of 48.55 lac. VIX closed at 15.62 and PCR declined to 0.9. So the broad range of July Series seems to be 8500-8600.
Intraday Support - Resistance
Resistance 8631-8672
Support 8563-8535
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