Nifty trade setup: The benchmark Nifty 50 index wandered in the range of 23,000-23,400 in the week ending January 24. On Friday, there was a decline of 0.50 per cent on the weekly basis, in which the bearish was seen to be a candlestick pattern. Weekly F&O expiry in the market and volatility is expected to increase when it approaches the Union Budget next week. Overall, the trend remains negative. Consolidation is expected in the market, and if the index breaks the lower range of the range, it may be possible to fall towards 22,800–22,600. However, experts say that a decisive breakout above 23,400 can lead the index to 23,600-24,000.
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 23,092) for NIFTY
Support based on Pivot Point: 23,050, 22,979 and 22,866
Resistance based on Pivot Point: 23,277, 23,347 and 23,460
Bank Nifty (Important Level 48,368)
Resistance based on pivot points: 48,727, 48,882, and 49,132
Support based on pivot points: 48,226, 48,071, and 47,821
Resistance based on Fibonacci Retress: 49,453, 50,431
Fibonacci Retress based support: 47,878, 46,078
Nifty call option date
A maximum call of 1.21 crore contract has been seen open interest on a strike of 24,000 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 93.17 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 25.07 lakh contracts on a strike of 50,000, which will work as important registration levels in the coming business sessions.
Bank Nifty put option data
On a strike of 47,500, a maximum put of 18.33 lakh contracts has been seen open interest, which will work as important registration levels in the coming business sessions.
Nifty Strategy for Today: Nifty- These levels are important for bank Nifty today, bets are made
FII and DII Fund Flow
Index India Vix remained in the Higher Zone on the previous trading day on measuring market volatility. It rose 0.3 percent to 16.75 levels. This is a sign of the market to remain more vigilant as the market approaches the Union Budget.
Call call ratio
The Nifty Put-Call ratio that reflects the market mood fell to 0.84 on January 24, while it was at 0.95 levels 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.
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: Aditya Birla Fashion & Retail, Bandhan Bank, Can Fin Holmes, Dixen Technologies, Indiamart Ermesh, L&T Finance, Manappuram Finance, Metropolitan Gas, Punjab National Bank
Stocks removed from F&O ban: nobody
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