Nifty and Sensex settle at lower levels

The latest update about futures and options at the bourses is that Nifty ended at 9,837, down by 66 points while the Sensex ended at 31,524, down by 270 points on Friday. There were 587 advances, 1,098 declines, and 72 unchanged stocks on the NSE, reflecting strong negative sentiments.
 
Infosys lost around Rs 28,000 crore in market capitalisation and dragged the Nifty index by 51 points. On the daily technical charts, the Nifty 50 index has formed a hammer like candle. The hammer candlestick formation is viewed as a bullish reversal candlestick pattern that mainly occurs at the bottom of downtrends.
 
On the options front, maximum put open interest stood at strike level 9,800 followed by 9,500, while maximum call open interest was at 10,000 followed by 10,100. Fresh call writing was seen at all strike levels from 9,800 to 10,000, which may continue to restrict any upside movement, while put unwinding at all strike levels from 9,600 to 10,000 is signalling weakness for the index ahead. 
 
Nifty futures of August series ended at a premium of 12 points. It had closed at a premium of 5 points in the previous trading session. Nifty’s support level has moved to lower levels at the 9,775 and 9,710 levels. It needs to hold 9,880 for a further bounce.