On the options front, maximum Put open interest is seen at 10000 followed by 10200 strikes while maximum Call open interest is at 10500 followed by 10400 strikes.
Bears took control of D-Street from the word go as a Nifty break below crucial support levels one after the other on Friday and made a strong bearish candle which closely resembles Bearish Belt Hold kind of pattern on the daily charts.
The bias has now tilted in favour of the bears and a break below 200-day moving average in the coming week could extend the selling pressure.
The Nifty took support near its 200-DMA on last two occasions (7th and 8th March) and then bounced back. Now, a break below this level which is placed around 10,160 could push the index towards its next crucial support level placed at 10,000.