F&O cues for D-Street

The Nifty50 index on Tuesday continued its upward move for the fourth consecutive session in a row and closed at a record high of 9,624. It continued the formation of higher lows for the fourth day and made a small bullish candle on the daily chart.

On the options front, maximum Put open interest was seen at strike prices 9,400 and 9,500 while maximum Call open interest stood at 9,700 followed by 9,600.

The Nifty witnessed fresh Put writing at strike prices 9,500, 9,600 and 9,400 while fresh Call writing was seen at strike prices 9,600 and 10,000.

The Bank Nifty has been consolidating between 23,100 to 23,450 levels since the last three sessions. It managed to hold near 23,100 level and then headed towards 23,300 level. It has major support at 22,978, while on the upside, hurdles are seen at 23,500 and then 23,800 levels.

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