Stock Market Highlights: Nifty finds next hurdle at 200-DSMA. How to trade on Friday

On the daily chart, the Nifty formed a red candle but respected the demand zone of 23,460–23,500, settling near the 200-day Simple Moving Average (250-DSMA) support.

If the index holds 23,460, then a short-term pullback towards 23,800-23,900 is possible. On the higher side, the index will find resistance near the 23,930 mark, where its 200-DSMA is located. Sustaining below 23,460 could trigger weakness towards 23,300-23,200 levels, said Hrishikesh Yedve of Asit C. Mehta Investment Interrmediates.

In the open interest (OI) data, the highest OI on the call side was observed at 23,550 and 23,600 strike prices, while on the put side, the highest OI was at 23,500 strike price followed by 23,550.