Securities Market: Nifty Forms Double Bottom, 22,780 is seen as major support. How to deliberate on Thursday

The Nifty Index was opened on a negative note, which faced great pressure for sale in the first half, but later witnessed the recovery and finally settled on an apartment into negative bonds at 23,045. The oscillator, India VIX, is cooled from 15.62 levels but is still a slightly higher 0.16 % at 14.90.

Technically, NIFTY has formed a double -bottom and DOJI candle near decisive support levels on a daily scale. The simple moving average is placed for 21 days (DSMA) at 23285, making the area 23280-23,000 strong obstacles. On the negative side, 22780 will be a major support level. “Mehta Investment said.

In open benefits data (OI), the highest OI was observed on the side of the calls at 23300 and 23,400 strike prices, while the highest OI level was at the highest strike price followed by 22,800.