For the coming week, one can use a pullback on the Nifty to sell weekly Call options for a strike of 23,050, as it will not be easy for the index to break above 23,000 unless strong momentum is witnessed across the sector, says Ashish Kyal.
Based on the OI percentage, 82 stocks saw long unwinding, which included Abbott India, Havells India, Ipca Laboratories, Oberoi Realty, and Aditya Birla Fashion & Retail.
ICICI Bank was the star performer in the Nifty 50 and formed robust bullish candlestick pattern on the daily charts with healthy volumes. The stock traded above all key moving averages now.
Siemens ended at new closing high of Rs 5,768, and formed long bullish candlestick pattern on the daily timeframe, while the trading volumes in last three sessions remained healthy.