Live share market update: Broad-based selling leads index lower

The Nifty drifted below its 200-DEMA in intraday trade on Monday.

Jan 14, 2019 07:01 IST India Infoline News Service

Analyzing Market Algorithms
The Indian equity markets continued to trend lower in early afternoon trade on Monday. The Nifty was down 88 points lower at 10,706 while Bank Nifty was down 199 points at 27,235.

Nifty dipped below its 200-DEMA, which is placed at 10,714, in intraday trade, which further added to the selling pressure in the markets.

Nifty PSU Bank Index and Nifty Pharma were the only sectoral indices trading in the green with Nifty Media being the worst performer trading 1.20% lower.

TATA Metaliks Ltd is set to announce its Q3 results later in the day.

On the options front, heavy call writing is being seen in out-of-the-money strikes with 10900CE and 11000CE witnessing an addition of ~9 lakh shares and ~6.88 lakh shares with the psychological level of 11,000 acting as major resistance for the Index in the current series. 

Top 2 F&O Gainers: Strides Pharma, Yes Bank
Top 2 F&O Losers: Federal Bank, GAIL
Most Active Index Option Contract:   
Call Option 10900CE, O.I.: ↑~9 lakh shares
Put Option: 10600PE, O.I.: ↑~2.33 lakh shares
O.I Spurt
Strides Pharma O.I.↑33%   Price↑6.9% (Fresh Long Positions)
Castrol O.I.↑10%   Price↓ 3.3%  (Fresh Long Positions)

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