Currently nifty maintains the positional buy mode on the hourly charts with support zone comes around 6711. Reverse your position to positional sell mode if the support breaks on the hourly charts. On Contrary Bank Nifty enters the positional sell mode after RBI keeping policy rates unchanged. Currently the resistance zone comes around 12853 reverse your position to positional buy mode if the resistance breaks on the upper side.
India VIX Hourly Charts
India VIX on the hourly charts is in increasing mode since the start of march along with the market hitting all time high. It is expected that India VIX will be in the band of 19-23 during the month of April.
Nifty Options Open Interest
The Open Interest picture shows 6600PE writers started actively building open interest which will be acting as a strong support zone for this option series. 6700PE also has considerable amount of open interest built up however less than 6600PE Open Interest. No active Open Interest builtup seen in the call side.