“Nifty formed a dragonfly Doji sort of candle on the daily frame on Wednesday with long lower shadow indicating support-based buying and has been making higher highs from the last three sessions,” he said.
India VIX was down by 1.48% from 12.14 to 11.96 levels in the previous trading session. Volatility rose above 12.5 during the day and later cooled off and comforted the bulls.
On the weekly options front, the maximum Call OI is placed at 19400 and then towards 19500 strikes while the maximum Put OI is placed at 19300 and then towards 19200 strikes.
India VIX was up by 4.12% from 11.52 to 11.99 levels in the previous trading session. Volatility spiked to 12.75 during the day but later cooled off thus paving the way for the bulls at support zones.