Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

🔎 *Nifty* 

Index opened flattish and tried to gain strength and touched 18886 but failed to cross its all-time high and drifted lower thereafter. The second half of the session witnessed some recovery which it again gave up in the last hour. The index is struggling at record high levels and whipsaws can be seen in the market. It formed a Bearish candle or an outside Bar on daily frame and closed with losses of around 85 points

📊 Now it has to hold above 18777 zones to witness an up move towards 18888 then 19000 zones while on the downside support exists at 18710 and 18666 zones

🎢 India VIX was up by 2.28% from 11.29 to 11.54 levels. Volatility was slightly on the rise and came out of its range on daily frame

 

🧮 On option front, monthly maximum Call OI is at 18800 then 19000 strike while maximum Put OI is at 18800 then 18700 strike. Call writing is seen at 18800 then 18900 strike while Put writing is seen at 18800 then 18700 strike. Option data suggests a shift in broader trading range in between 18550 to 19000 zones while an immediate trading range in between 18650 to 18900 zones

🔎 *Bank Nifty*

Index opened on a flattish note but gradually drifted towards 43700 zones in the first half of the session. Later it witnessed good recovery of 250 points from lower zones and made a high of 44044 marks but again failed to hold at higher zone. It formed a Bearish candle on daily scale as selling pressure is seen at higher zones but multiple support is still intact at lower zones

📊 Now it has to cross and hold above 43750 zones for a bounce towards 44044 then 44250 zones while a hold below the same could see some weakness towards 43500 then 43333 marks

🔎 *Fin Nifty*

Index opened positive and witnessed buying interest towards 19741 in the first half of the trading session. However it failed to surpass its previous life time high of 19778 zones by 40 points and corrected by more than 150 points in the last hour of the session. It has managed to surpass consolidation band of 19000-19636 zones but again got stuck

📊 Now it needs to hold above 19500 zones to extend gains towards previous life time high of 19778 then 20000 zones while on the downside supports are placed at 19500 then 19400 zones

*Stocks* 

🚀 Bullish setup in MFSL, BSoft, IGL, LT, HDFC, HDFC Bank, Bhartiartl, Indigo, MCX and Hindpetro

🐻 Bearish setup in AB Capital, Indhotel, PNB, RBL Bank, Biocon, GNFC, Bajfinance, Gail, Godrejcp, UPL, SRF, Bandhan Bank, Havells, Gujgas, AU Bank, NMDC, Voltas and Indusind Bank