11,500 a make or break level for Nifty

Traders added 10.65 lakh shares taking the 11,500 call's open interest to 29.34 lakh, implying that this level becomes a resistance for the market.

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The range as per the value of the combined call and put implies an almost 4% range for the Nifty -11,272-11,728.

Heavy writing was seen in the 11,500 call expiring on September 24 intraday Thursday with the market correcting by 0.75% at 11,522 prior to close.

Traders added 10.65 lakh shares taking the 11,500 call's open interest to 29.34 lakh, implying that this level becomes a resistance for the market. Since the 11,500 put has a larger OI, this level appears to be a make or break level.


The range as per the value of the combined call and put implies an almost 4% range for the Nifty -11,272-11,728.
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