F&O cues for D-Street

The Nifty50 index formed an inside bar on the daily chart as it traded inside the trading range during Friday’s session. It has been making lower tops and lower bottoms and trading in a falling channel on the hourly scale.

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

Significant Call writing was seen at strike prices 9,700 and 9,600 in the last few sessions, which is restricting the index from surpassing its recent highs while Put writing remained intact at strike prices 9,600 and 9,500 and it supported the market on a decline.

The long buildup was seen on the counters of Federal Bank, Bharat Forging, India Cement, Sun TV and TVS Motor while shorts were seen on selective pharma and IT counters.

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