Huge selling of 11,000 July 23 puts likely to fuel Nifty rally

The market closed at 11,022 Monday. By the end of the trading day, option traders had raised the open interest on the 11,000 put expiring July 23 by a whopping 10.24 lakh shares (75 shares make one lot) to 12.93 lakh. Open interest of the 10,900 put increased by 9.84 lakh shares to 20.25 lakh.

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