Nifty consolidates close to Resistance levels

Nifty opened with a gapup of more than 150 pts but immediately faced selling pressure with Open = High for the day. It made a low @ 25077 within the first half hour of the day and thereafter it traded within this range before closing @ 25103 for the day clocking gains of 100 pts. Top Nifty Gainers:

JIOFIN, KOTAKBANK, BAJAJ FINANCE Top Nifty Losers: ETERNAL, ICICIBANK, TITAN The India VIX increased mildly to close @ 14.7 levels, up by 0.4%. Range for the Day – 83 pts. Weekly Options Data (Considering Strikes which are within 1500 pts above and below Spot price): Highest Call Base 26000 Highest Call OI Addn 25100 Highest Call OI Unwinding 24700 Highest Put Base 24000 Highest Put OI Addn 25100 Highest Put OI Unwinding --- MAX PAIN 25000 The ATM strike (25100) has a combined (put + call) premium of 267 pts. This is close to par considering we have 3 trading days to go till expiry. View: Nifty continues to trade within a broad 600 pt range with 24500 on the downside and 25100 on the upside. 25100 – 25250 is a strong supply zone for the Nifty. If Nifty manages to break past this zone, then a trending move towards its previous highs at 26275 is likely. For the week, Nifty will remain in a Bullish bias above 24925 levels, while bearish bias can be seen below 24770 levels.