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On Thursday, the benchmark indices settled lower for the fourth consecutive session. The 30-pack Sensex settled 98 points lower at 53,416. Its broader peer, Nifty50, declined 28 points to settle below the 15,950 mark.
“Following multi-week recovery, Nifty has been trending lower this week with FIIs’ unwinding their long positions and adding short positions on index futures. Nifty’s 16000 call and put (combined) so far holds a higher open interest base for the coming weekly expiry, while India Vix remains near its multi-month lower zone.
Focus has shifted to broader markets, and hence, major action on the index front is unlikely. Nifty’s sustenance above 15,900 is essential to regain some momentum on the upside,” said Amit Trivedi, CMT, Technical Analyst – Institutional Equities, Yes Securities.
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