Top 15 things to know before the opening bell on Monday
image for illustrative purpose
Key Levels for Nifty 50 (24,148.20)
Resistance (Pivot Points): 24,244, 24,293, 24,373
Support (Pivot Points): 24,084, 24,034, 23,954
Special Formation: The Nifty 50 formed a bearish candle with minor upper and lower shadows, indicating volatility. It is below the 10-, 20-, 50-, and 100-day EMAs, and the lower highs-lower lows formation continued, signaling a negative bias.
2. Key Levels for Bank Nifty
Resistance (Pivot Points): 51,883, 52,005, 52,201
Support (Pivot Points): 51,491, 51,370, 51,174
Resistance (Fibonacci): 51,824, 52,336
Support (Fibonacci): 51,260, 50,264
Special Formation: The Bank Nifty formed a bearish candlestick pattern, dropping below key EMAs and failing to close above the 52,500 zone. The index declined by 0.7% to 51,561 and fell by 0.2% for the week.
3. Nifty Call Options Data
Maximum Open Interest: 25,000 strike (84.64 lakh contracts)
Maximum Call Writing: 25,000 strike (43.82 lakh contracts)
Maximum Call Unwinding: 25,200 strike (2.05 lakh contracts)
4. Nifty Put Options Data
Maximum Open Interest: 23,000 strike (52.47 lakh contracts)
Maximum Put Writing: 23,000 strike (16.09 lakh contracts)
Maximum Put Unwinding: 24,300 strike (1.6 lakh contracts)
5. Bank Nifty Call Options Data
Maximum Open Interest: 52,500 strike (34.49 lakh contracts)
Maximum Call Writing: 52,500 strike (16.03 lakh contracts)
Maximum Call Unwinding: None significant
6. Bank Nifty Put Options Data
Maximum Open Interest: 51,000 strike (16.35 lakh contracts)
Maximum Put Writing: 50,800 strike (9.59 lakh contracts)
Maximum Put Unwinding: 52,000 strike (6.64 lakh contracts)
7. Funds Flow (Rs crore)
FIIs: -Rs 1,237.42 crore
DIIs: +Rs 998.72 crore
8. Put-Call Ratio
The Nifty Put-Call Ratio increased to 0.91, indicating more Put options being sold than Call options, reflecting a bullish sentiment.
9. India VIX
Current Level: 14.47 (declined 3.15% on Friday, 9.01% for the week)
Sustaining around the 12-13 zone is crucial for bulls to regain strength.
10. Long Build-Up (15 Stocks)
Increase in open interest and price indicates a build-up of long positions in these stocks.
11. Long Unwinding (45 Stocks)
Decline in open interest along with a fall in price indicates long unwinding.
12. Short Build-Up (90 Stocks)
Increase in open interest along with a fall in price indicates a build-up of short positions.
13. Short-Covering (33 Stocks)
Decrease in open interest along with a price increase indicates short-covering.
14. High Delivery Trades
Stocks with a high share of delivery trades reflect investing interest rather than trading interest.
15. Stocks Under F&O Ban
Added: Manappuram Finance
Retained: Aditya Birla Fashion & Retail, Granules India
Conclusion
Traders should keep an eye on the crucial support levels of 24,000 and 23,800 for the Nifty 50, as falling below these could increase selling pressure towards 23,500. On the upside, sustaining above 24,500 is key for a potential rally. For Bank Nifty, the focus should be on the 52,500 resistance and 51,000 support levels. Monitoring these levels and market indicators like the Put-Call Ratio and India VIX will be crucial for making informed trading decisions.
