Nifty Trade setup: Nifty continued to move in a narrow range, although it recovered the previous day’s losses and closed with a gain of 0.6 percent on January 20. Besides, higher than average volume was also seen. There was also an indication of buying at lower levels on the daily chart. But volatility remained high. This is a signal of caution for the bulls. Nifty continues to face resistance in the 23,350-23,400 area. If the index manages to close and sustain above this zone, an upward journey towards 23,600 is possible in the upcoming sessions. However, consolidation may continue as long as it trades below this zone. Experts say that there is immediate support for Nifty at 23,100.
Here we are giving you some such figures on the basis of which it will be easy for you to catch profitable deals.
Key support and resistance levels for Nifty (important level 23,345)
Support based on pivot point: 23,218, 23,166 and 23,082
Registration based on pivot point: 23,386, 23,438 and 23,523
Bank Nifty (crucial level 49,351)
Registration based on pivot points: 49,598, 49,826, and 50,195
Support based on pivot points: 48,859, 48,631, and 48,261
Resistance based on Fibonacci retracement: 49,448, 50,413
nifty call option date
On weekly basis, maximum call open interest of 90.67 lakh contracts has been seen at the strike of 24,000 which will act as an important resistance level in the coming trading sessions.
nifty put option data
Maximum Put Open Interest of 74.3 lakh contracts has been seen at the strike of 23,000 which will act as an important support level in the coming trading sessions.
bank nifty call option data
Bank Nifty has seen a maximum call open interest of 17.64 lakh contracts at the strike of 51,000, which will act as an important resistance level in the coming trading sessions.
bank nifty put option data
Maximum Put Open Interest of 14.11 lakh contracts has been seen at the strike of Rs 49,000 which will act as an important resistance level in the coming trading sessions.
FII and DII fund flows
India VIX, a volatility index that measures potential market fluctuations, jumped 4.24 per cent to 16.42. Its rise continued for the third consecutive session and created more trouble for the bulls. Bulls need to be cautious.
put call ratio
The Nifty Put-Call Ratio (PCR), which reflects the market mood, increased to 1.03 on January 20. Whereas in the last session it was at the level of 0.91. It is noteworthy that PCR going above 0.7 or crossing 1 is generally considered a sign of bullish sentiment. Whereas a ratio falling below 0.7 or towards 0.5 indicates bearish sentiment.
Stock Market Live Updates- Flat trading in Gift Nifty, mixed trend in Asian markets
Stocks covered under F&O ban
Restricted securities under the F&O segment include those companies whose derivative contracts exceed 95 per cent of the market wide position limit.
Newly included stocks in F&O ban: nobody
Stocks already included in F&O restrictions: Aditya Birla Fashion & Retail, Angel One, Bandhan Bank, Can Fin Homes, Kalyan Jewellers, L&T Finance, Manappuram Finance, RBL Bank
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