On Friday, the market settled lower due to the fall in banking stocks which caused after the government’s notification on the Banking Regulation (Amendment) Ordinance, 2017. Also, fall in crude prices pulled down oil explorers such as Oil India and ONGC. The Sensex closed 267 points down at 29,858, and Nifty 50 ended at 75 points down at 9,285. The Nifty index came back after hitting its all-time high 9,367 in early morning trade. After rising over 5% from the previous close, the India VIX, ended the day at 11.98. The government notified the Banking Regulation (Amendment) Ordinance 2017, kick-starting a new framework to deal with Rs 6 lakh crore worth of nonperforming assets in the Indian banking system. OI increase w.r.t increase in price was seen in REC LTD and Increase in OI w.r.t Decrease in price was seen in VEDL. 9400 CALL & 9300 PUT showing the highest Open Interest.
Nifty Future Holding Tips by Technical Expert (6th May)