Nifty Trade Setup: On January 6, the market completely fell into recession. Nifty 50 fell 1.6 percent due to selling across all sectors. In this fall, the important support of 200-day EMA (23,700) was also broken. Nifty witnessed a decline for the second consecutive trading session. Negative trend was seen in momentum indicators. Market experts say that if Nifty remains below 200-day EMA, its immediate downside target will be 23,450-23,500 (around December low). After that the next lower target will be 23,263 which is an important support level. At the same time, its immediate resistance on the upside is at 23,700, after which the next resistance zone is at 23,900-24,000.
Here we are giving you some such figures on the basis of which it will be easy for you to catch profitable deals.
Important level for Nifty 50 (23,616)
Support based on pivot point: 23,547, 23,420 and 23,215
Registration based on pivot point: 23,958, 24,085 and 24,291
Key level for Bank Nifty (49,922)
Registration based on pivot points: 50,720, 51,021, and 51,508
Support based on pivot points : 49,746, 49,445, and 48,958
Retracement based on Fibonacci retracement : 50,871, 51,555
Support based on Fibonacci retracement : 49,281, 47,874
nifty call option data
On weekly basis, maximum call open interest of 1.14 crore contracts has been seen at the strike of 24,500 which will act as an important resistance level in the coming trading sessions.
nifty put option data
Maximum Put Open Interest of 85.1 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 21.59 lakh contracts at the strike of 52,000, which will act as an important resistance level in the coming trading sessions.
bank nifty put option data
Maximum Put Open Interest of 11.97 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, which measures volatility in the market, rose rapidly by 15.58 percent to reach the level of 15.65. This is a signal of caution for the bulls.
put call ratio
The Nifty Put-Call Ratio (PCR), which reflects market mood, fell to 0.72 on January 6 from 0.86 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.
2025 Market outlook: Health care can become the sector of the year, private banks and IT will also see growth.
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: Hindustan Copper
Stocks already included in F&O restrictions: Manappuram Finance, RBL Bank
Stocks removed from F&O ban: nobody
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