Nifty and Bank Nifty on the hourly charts maintained the positional sell mode currently the resistance zone come around 7808 and 15452 respectively. It should be noted that there was a clear divergence between nifty and bank nifty as nifty was making high in the past bank nifty was lagging and unable to break the newer highs. Reverse your position to positional sell mode if the resistance zone breaks on the hourly charts.
India VIX Hourly charts
India VIX on the hourly charts maintains the positional sell mode and currently the resistance zone comes very close to 18.78 respectively. Reverse your position to positional long if the resistance zone breaks on the hourly charts.
Open Interest Build up
It should be noted that open interest built up in 8000CE strike price crossed the 1 crore mark. Active call writing seen in 7800CE and 8000CE. Options writes are betting that nifty will close below 7800 for the current option series.
Most of the exchanges Shows a improved turnover due to high participation in the market. And NSE FNO on the union budget day recoreded a highest turnover of 4.4 lakh crores.