The Nifty50 managed to stage a smart bounceback in Thursday’s trade after a strong selloff in the previous sessions, but experts say fresh Put writing at lower levels has a bearish undertone and indicates more pain for the market.
Put writing was seen at strike price 7,100 to the tune of 4.01 lakh contracts, which took total open interest to 27.69 lakh, followed by strike price 7,000, where 1.80 lakh contracts were added. Total open interest at this strike price now stands at 30.97 lakh contracts.
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