Market Trade Setup: The Nifty continued weakness on 6 February. The range closed down 0.40 per cent between the range bound trending. The first traders of the RBI policy meat to be held on 7 February took vigilance. In such a situation, the possibility of consolidation in the market today cannot be ruled out. However, overall trend remains positive. In case of correction, the Nifty can fall to 23,400-23,450 (near 10 and 20-Day EMA). After that 23,200 next major support (where it rejects Higher High Higher Formation). Market experts say that there is a big resistance for Nifty at 23,800 upwards. Going above this level, the next target of 24,000 in the Nifty can be seen.
Here you are giving some such figures on the basis of which you will be able to catch profitable deals.
Support and resistance level for nifty
Support based on Pivot Point: 23,561, 23,510 and 23,427
Resistance based on Pivot Point: 23,727, 23,779 and 23,862
Bank nifty
Resistance based on pivot points: 50,516, 50,611, and 50,765
Support based on pivot points: 50,208, 50,112, and 49,958
Resistance based on Fibonacci Retress: 51,153, 51,939
Fibonacci Retress based support: 47,875, 46,078
Nifty call option data
A maximum call of 49.54 lakh contracts has been seen open interest on a strike of 24,500 on a weekly basis, which will work as an important registration level in the upcoming business sessions.
Nifty put option data
On a strike of 23,600, a maximum put of 28.94 lakh contracts has been seen open interest which will work as important support level in the coming business sessions.
Bank Nifty Call Option Data
Bank Nifty has seen a maximum call open interest of 17.8 lakh contracts on a strike of 52,000, which will work as an important registration level in the upcoming business sessions.
Stock Market Live Updates: Gift Nifty Indication, Indian market can be strong
Bank Nifty put option data
On a strike of 49,000, a maximum of 13.9 lakh contracts have been seen open interest, which will work as important registration levels in the coming business sessions ahead.
FII and DII Fund Flow
The Volatibility Index, India Vix stood at the lower level and remained below all the major moving averages. However, it rose 0.66 percent to close at 14.18. It is still in a better position for Tejdis.
Call call ratio
The Nifty Put-Call Ratio (PCR), which showed the market mood, declined to 0.95 on 6 February, compared to 0.97 in the previous season. Significantly, the departure of PCR above 0.7 or 1 cross PCR is generally considered a sign of boom. Whereas the ratio falling below 0.7 or 0.5 is a sign of recession.
Stock under F&O Bain
The F&O segment includes the restricted securities that include the derivative contract market wide position limit to more than 95 per cent.
Stocks involved in F&O ban: nobody
Stocks already involved in F&O ban: nobody
Stocks removed from F&O ban: nobody
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