Spot Nifty is in positional buy mode on the hourly charts since 9th May and Bank Nifty in buy mode since 22nd April. Currently the support zone comes near 6954 and 13781 respectively. Reverse your position to sell mode if the support zone breaks on the hourly charts.
India VIX maintains positional sell mode for the past two days. Even though yesterday there is a huge surge in the India VIX and gains 13.38% VIX manages to maintain the positional sell mode and the current resistance comes very close too 37.96. India VIX will turn to positional buy mode if the resistance breaks on the hourly charts.
Open Interest Lookup
Almost Equal amount Open Interest Built up seen in 7200CE, 7400CE and 8000CE Nifty Option Contracts. So far the call side has the higher amount of open interest than the put side. However it is unknown at this point that due to election result people are willing to bet on the single side or smart money is shorting on the call side due to high expectation in the market on Election Results. A Clear picture will emerge once the election results are over.