On the call side, there are notable OI concentrations at the 22,500 and 22,900 levels, suggesting these as resistance levels to watch, with the 22,900 level approaching all-time highs.
Nifty 50 closed lower due to state-run banks, while S&P BSE Sensex closed slightly higher. Analysts suggest selling if Nifty breaches 22348 or rises to 22570-22620. US markets rose on Fed rate cut hopes.
Q4 results today: Tata Consumer Products, ICICI Prudential Life Insurance, Tata Elxsi, Mahindra & Mahindra Financial Services are among the 16 companies that will release their Q4 results on Tuesday
Rising prices of precious metals come ahead of Gudi Padwa and Ugadi, the auspicious day on the Hindu calendar marking the beginning of New Year in certain parts of the country. The price surge has dampened mood among potential customers who prefer to buy gold to celebrate this auspicious day, which will fall on April 9 this year.