Mumbai: Is the market ready for a breather, having posted a new high of 14,024.85 on the last day of the year?
Provisional weekly derivatives data seems to hint at a minor correction even as analysts believe dips would be bought into.
Options traders aggressively sold call options at 14000 level, with Nifty having closed at 13,981.75. They sold a provisional 10.6 lakh shares (75 shares make one contract), taking the outstanding positions or open interest (OI) to 20.6 lakh shares.
Sellers also raised positions at 13900 put on Nifty options expiring on January 7.
The positions at both calls and puts indicate a range of 13,800-14,123 for the week ending on January 7.