🔎 *Nifty*
Index opened gap up by over 100 points and extended its up move throughout the day and touched a fresh all time high of 19201 zones. Bulls were seen driving the index northward and sustained the momentum till the last tick to finally close with gains of around 220 points. It formed a strong Bullish candle on daily and weekly scale and gave the highest ever close. It has been forming higher highs on weekly scale from last fourteen weeks and supports are gradually shifting higher
📊 Now it has to continue to hold above 19100 zones to extend the move towards 19300 and 19500 zones while on the downside support exists at 19000 and 18888 zones
🎢 India VIX was down by 0.83% from 10.89 to 10.80 levels. Volatility is hovering below 11 zones which is supporting the bulls at record high levels
🧮 Since it’s the beginning of the new series, Option data is scattered at various far strikes in monthly series. On weekly front, Maximum Call OI is at 19500 then 19200 strike while Maximum Put OI is at 19000 then 19100 strike. Minor Call writing is seen at 19400 then 19500 strike while Put writing is seen at 19100 then 19000 strike. Option data suggests a broader trading range in between 18800 to 19500 zones while an immediate trading range in between 19000 to 19350 zones
🔎 *Bank Nifty*
Index opened gap up by 300 points at new life highs of 44666 marks but remained consolidative above 44500 zones in the initial part of the session. Later it regained momentum and extended its move to hit a new life time high of 44787 marks to close with decent gains of more than 400 points. It formed a strong bullish candle on daily scale and higher highs - higher lows formation is intact from past three sessions. It formed a strong bullish candle on weekly scale as well and gave highest weekly close ever
📊 Now it has to hold above 44500 zones for an up move towards 45000 then new high of 45250 zones while on the downside support is seen at 44444 then 44250 levels
🔎 *Fin Nifty*
Index opened positive and witnessed sustained buying interest throughout the entire trading session. It has given a consolidation breakout on weekly chart and gave the highest daily, weekly and monthly close ever. It formed strong bullish candle on daily and weekly chart indicating complete dominance by bulls. Buying is visible across Financial Space
📊 Now it has to hold above 19900 zones for new life time high of 20250 then 20500 zones while on the downside support is seen at 19900 then 19778 levels
*Stocks*
🚀 Bullish setup in M&M, M&MFin, RBL Bank, Maruti, Bajaj Auto, BHEL, Escorts, Persistent, Indusind Bank, Sunpharma, BSoft, Bharatforg, L&TFH, Cumminsind, Techm, HAL, HDFC, Cholafin, Syngene, LT, Tatamotors, Coforge, Hcltech and Titan
🐻 Bearish setup in Ambujacem, India Cement, SRF and Pidilitind
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