Nifty trade setup: The Nifty 50 index decisively fell below 23,000 (for the first time since June 2024). This was strong support for the last two weeks. Also, on 27 January, trendline breakdown was also seen. This change has indicated the strengthening of the mandis. With the arrival of the budget event, the markets are dominating the market. In addition, the market’s weak breathth and growing VIX have weakened the spirit. As long as the index remains below 23,000, the dulls can remain active. In such a situation, the index can slip up to 22,500 zones. However, market experts say that 22,900-23,000 range can serve as Tatkal registration in the event of boom. After that there will be the next major registration at 23,200.
Here you are giving some such figures on the basis of which you will be able to catch profitable deals.
Support and Resistance Level (Important Level 22,829) for NIFTY
Support based on Pivot Point: 22,790, 22,738 and 22,654
Resistance based on Pivot Point: 22,959, 23,011 and 23,095
Bank Nifty (Important Level 48,065)
Resistance based on pivot points: 48,257, 48,370, and 48,551
Support based on pivot points: 47,894, 47,782, and 47,601
Resistance based on Fibonacci Retress: 49,414, 50,378
Fibonacci Retress based support: 47,873, 46,078
Nifty call option date
A maximum call of 83.96 lakh contracts has been seen open interest on a strike of 23,000 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 22,000, a maximum number of 96.01 lakh contracts have 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 31.16 lakh contracts at a strike of 50,000, which will work as important registration level in the coming business sessions.
Bank Nifty put option data
On a strike of 47,000, a maximum of 26.02 lakh contracts have been seen open interest, which will work as important registration levels in the coming business sessions.
FII and DII Fund Flow
The Volatibility Index India VIX reached 18.13 with a faster gain of 8.29 per cent, its highest completion level since 6 August 2024. Increased instability increases anxiety among the sharpness.
Call call ratio
The Nifty Put-Call Ratio that reflects the market mood fell to 0.75 on January 27, compared to 0.84 in the previous session. 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.
RBI’s big action to increase liquidity in the system, decided to buy government security worth Rs 60000 crore
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: Indiamart Ermesh, Manappuram Finance, Metropolitan Gas, Punjab National Bank
Stocks removed from F&O ban: Aditya Birla Fashion & Retail, Bandhan Bank, Can Fin Holmes, Dixen Technologies, L&T Finance
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