Nifty Trade setup: Nifty made a comeback after a huge fall of one day and closed with a gain of 0.6 percent on January 22. However, given the weakness in market breadth and strong selling pressure in small-medium stocks as well as continuation of lower top, lower bottom formation, there are signs of weakness in the market. Market experts say that Nifty is expected to move in the wide range of 23,000-23,400. Therefore, if the index decisively breaks the upper limit then fresh buying interest may take the index towards 23,600. On the contrary, breaking the lower limit may take Nifty towards 22,800.
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 23,155)
Support based on pivot point: 23,030, 22,986 and 22,914
Resistance based on pivot point: 23,174, 23,218 and 23,290
Bank Nifty (crucial level 48,724)
Resistance based on pivot points: 48,797, 48,964, and 49,234
Support based on pivot points: 48,256, 48,089, and 47,819
Resistance based on Fibonacci retracement: 49,449, 50,415
Support based on Fibonacci retracement: 47,878, 46,078
nifty call option date
On a weekly basis, maximum call open interest of 1.06 crore contracts has been seen at the strike of 23,500, which will act as an important resistance level in the coming trading sessions.
nifty put option data
Maximum put open interest of 1.04 crore 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 21.99 lakh contracts at the strike of 50,000, which will act as an important resistance level in the coming trading sessions.
bank nifty put option data
Maximum Put Open Interest of 14.62 lakh contracts has been seen at the strike of 47,000 which will act as an important resistance level in the coming trading sessions.
FII and DII fund flows
Volatility index India VIX fell 1.66 per cent to 16.77, snapping a four-day losing streak. However, it remains at a high level which is a signal of caution for the bulls.
put call ratio
The Nifty put-call ratio, which reflects market mood, rose to 0.88 on January 22 from 0.77 in the previous session. 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 Picks: Nifty will touch 27000 after the budget, countless stocks will give 70-80% returns in 2025 – Sushil Kedia
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: Indiamart Intermesh and Punjab National Bank
Stocks already included in F&O restrictions: Aditya Birla Fashion & Retail, Bandhan Bank, Can Fin Homes, Dixon Technologies, L&T Finance, Manappuram Finance, Mahanagar Gas and RBL Bank
Stocks removed from F&O ban: Angel One, Kalyan Jewelers
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