The stock market closed slightly on 19 February. The index took support at 22,800 consecutives, but broadly was the arranged bearish. According to experts, the index can try to climb above 23,000 in the coming sessions. Above this can be 23,200-23,500 significant obstacles. However, consolidation may continue below 23,000.
We are telling you about important data points here, so that you can help in trading better than:
Important level for Nifty 50
Resistance based on point points: 23,022, 23,078 and 23,168
Support based on point points: 22,843, 22,787 and 22,697
Special Formation: The Nifty 50 maintains the bullish candor with the upper shade in the daily chart, which indicates a high -level selling pressure. The trend is still in favor of Bears, as Eidx is currently trading below the important moving average.
2) Important Level for Bank Nifty (49,570)
Resistance based on point points: 49,649, 49,843 and 50,158
Support based on point points: 49,019, 48,825 and 48,510
Resistance based on Fibonacci Restressment: 50,374, 51,155
Fibonacci support based on retracement: 47,866, 46,078
Special Formation: The Bank Nifty Index has a long bullish candle in the daily time frame, which looks like a bullish candlestick pattern.
3) Nifty call options data
According to a weekly options data, the maximum call was seen on the open interest 23,500 strikes (with 1.15 crore contracts). This level can serve as an important resistance for Nifty in the short term. The figure was then the figure of 23,100 strikes (92.39 lakh contracts) and 23,400 strikes (80.58 lakh contracts).
4) Nifty put options data
Talking about the put side, the Maximum Open Interest was seen on the 22,500 strike (81.02 lakh contracts). The figure was then 22,000 strikes (80.43 lakh contracts) and 22,800 strikes (69.91 lakh contracts).
5) Bank Nifty Call Options Data
According to monthly options data, the maximum call open interest was 51,000 with 19.48 million contracts. It can work as an important resistance level for the index in the short term. The figure was then a 50,000 strike (12.12 lakh contracts) and 51,000 strikes (12.09 lakh contracts).
6) Bank Nifty put options data
Talking about the put side, the level of Maximum Put Open Interest was seen on 49,000 strikes with 15.53 lakh contracts, which can work as an important support level for the index. This was followed by 48,000 strikes (with 13.64 lakh contracts) and 47,500 strikes respectively.