The Nifty 50 index retreated from lifetime highs and is seeing resistance around 9,300 as more traders sell call options with the same strike price. The India Volatility Index (VIX) continues to trade near record low levels. With foreign institutional investors now adding more positions in index put options compared with index calls, can traders expect weakness in the near term?
On BloombergQuint's Surf's Up, which tracks weekly trends in equity derivatives, Chandan Taparia of Motilal Oswal Securities says the Nifty could weaken should it test 9,100. He is positive on banks. For more on what levels to bear in mind and stocks to watch, listen in.
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