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Comparatively the contract value of Sensex is lower than the Nifty. So, I think that is also for competition, that is also for more retail participation and again this is for, as per the rule of keeping the derivatives contract value to 5 lakh rupees.
The trend is likely to be volatile. The index it needs to hold above 20,250 to move towards 20,450 and then 20,600 levels. A slip can result in a decline towards 20,100 and then 20,000
Options data points towards a continuation of the rally to test higher levels of 22300 and 22500. Immediate trading support stands at 22000-21900. A positive view negates only below 21700.
Fin Nifty is witnessing heavy traction around the 21,000 level, with the highest OI seen in both CE and PE. Analysts anticipate a positive bias until this mark is defended.