Nifty saw a gap-up opening on Wednesday and call writers (bears) are seen exiting with additional PUT writers at all strikes from 21,500 until 22,200. This, analysts believe, led to the sharp recovery in the 50-stock index. Nifty saw a gap-up opening on Wednesday and call writers (bears) are seen exiting with additional PUT writers at all strikes from 21,500 until 22,200. This, analysts believe, led to the sharp recovery in the 50-stock index. Economic Times