Nifty signals indecision, forms doji candle

Nifty Index opened negative and after the recovery in the initial tick, it slipped lower and moved in the lower band with swings. The second half of the session witnessed lacklustre move. It formed a Doji candle on daily frame with longer upper shadow indicating pressure on the higher zones.

Now till it holds below 25850 zones, some weakness could be seen towards 25650 then 25500 zones whereas hurdles are placed at 25950 then 26150 zones.

On option front, Maximum Call OI is at 26000 then 26500 strike while Maximum Put OI is at 25000 then 25800 strike. Call writing is seen at 25800 then 26500 strike while Put writing is seen at 25600 then 25000 strike. Option data suggests a broader trading range in between 25400 to 26200 zones while an immediate range between 25600 to 26100 levels.