_Morning Snippet:- 14th May 2025_ *Index Observation* Nifty gave up 1/3rd of its previous day’s gain in yesterday’s session on account of profit taking after an extended rally. Index has ended just below its trailing to its support of 24600. Upside to 24900 / 25400 remains open unless the index fails to hold above 24600. Next 2-3 trading days are expected to remain volatile after a large range day at the start of this week. Bank Nifty has reversed its course from its 5 year polarity trendline support highlighted earlier this week. Unless a closing below its previous bearish target of 53500 is not seen, further downside cannot be seen on this index. For this week - a range between 54900 and 55900 can be seen unfolding. NSE Nifty, weekly expiry is scheduled for tomorrow while the weekly closing is seen on Friday on charts. *Interesting Observation* Since the tragic Pahalgam attack on 22nd April 2025, Indian equities have largely demonstrated resilience, with the Nifty 50 standing at a 1.6% gain from that day’s opening level. However, a closer look at sectoral performance reveals a more nuanced picture. The IT sector has emerged as a clear outperformer, surging by 9.6%, followed by the Defence sector with a 9.4% gain and Auto up 6%. Conversely, sectors like PSE and PSU Banks have struggled, declining by 2.4% and 2% respectively. These divergences highlight which segments of the market one should be looking at - or which one should be avoided —during this periods of uncertainty and heightened volatility. *DERIVATIVES | Trade Setup* *Cash Market Activity* FII: ₹ -476 Cr DII: ₹ 4,273 Cr Week-to-Date (WTD) FII: ₹ 770 Cr DII: ₹ 5,721 Cr Month-to-Date (MTD) FII: ₹ 8,627 Cr DII: ₹ 19,462 Cr *F&O Cues* FIIs have reversed their stance again in index futures, adding 36,650 short contracts in the latest session. The net position has turned short-heavy, and currently stand at 36.5k short contracts In the options segment, the 24,000 strike remains a strong support level, indicated by the highest put open interest, while 25,000 continues to act as key resistance, marked by the highest call open interest. *New 52 Week High Low Data* *Large Cap:* New 52 Week Highs: 0 New 52 Week Lows: 0 *Mid Cap:* New 52 Week Highs: 3 New 52 Week Lows: 0 *Small Cap:* New 52 Week Highs: 6 New 52 Week Lows: 0 *NIFTY500:* New 52 Week Highs: 9 New 52 Week Lows: 0