Bulls struggle to hold 22,800 levels amid foreign outflows

The corrective phase of India's stock markets is expected to continue this week, with bulls fighting hard to protect the strong support of 22,800 points amid continued outflows by foreign institutional investors (FIIs), say market analysts.

- Ram Sahgal

MUMBAI:

Though the Nifty 50 has recovered twice in the recent past from around that level, analysts expect it to be broken this time around due to relentless selling by foreign institutional investors on the back of global tariff tensions and rising US bond yields.

One of the indications of this is the selling or writing of in-the-money (ITM) weekly Nifty call options by savvy derivatives traders. An ITM call is an option whose price is lower than the underlying Nifty price.