🔎 *Nifty*
Index opened gap by 84 points and after a slight blip in the initial tick, it extended its move upwards and touched a new life time high of 19434 levels. It respected support of 19300 zones to finally give the highest ever closing with gains of around 70 points. It has been making higher highs - higher lows from last five trading sessions and has recently rallied by around 800 points in last five trading sessions
📊 Now it has to continue to hold above 19300 zones to extend the move towards 19450 and 19500 zones while on the downside support shifts higher at 19250 and 19100 zones
🎢 India VIX was up by 1.39% from 11.54 to 11.70 levels. Volatility slightly moved up as index geared its move for new high territory and Call writers are paining with surge in Call IV
🧮 On weekly front, Maximum Call OI is at 19400 then 19500 strike while Maximum Put OI is at 19300 then 19000 strike. Minor Call writing is seen at 19400 then 19550 strike while Put writing is seen at 19400 then 19350 strike. Option data suggests a broader trading range in between 19100 to 19600 zones while an immediate trading range in between 19250 to 19500 zones
🔎 *Bank Nifty*
Index opened gap up by 200 points near 45300 zones but it failed to hold at higher zones and some profit booking was seen towards 45000 marks in the initial hour of the session. However good recovery seen from lower zones and it wiped out its intraday losses and extended its momentum to hit a new life time high of 45655 marks. It formed a High Wave Doji on daily scale with long upper and lower shadow as it remained volatile in a wider range of 400 points but higher highs - higher lows formation is intact from the past five sessions
📊 Now it has to continue to hold above 45000 zones for an up move towards 45500 then its recent life high of 45650 zones while on the downside support shift higher at 45000 then 44750 levels
🔎 *Fin Nifty*
Index opened gap up by 120 points and continued its bullish momentum as it made a new life time high of 20577 levels. It has been forming higher highs - higher lows from past five trading sessions and every small decline is being bought into. It formed a Bullish candle on daily scale with long upper shadow and was led by heavyweights. Buying is visible across heavyweights Financial stocks
📊 Now it has to continue to hold above 20300 zones to extend the gain towards 20500 then 20577 levels while on the downside support is seen at 20250 then 20150 levels
*Stocks*
🚀 Bullish setup in Bajaj Finance, Heromotoco, Federal Bank, Jindalstel, Techm, Can Fin homes, Bank Baroda, Drreddy, Titan, Colpal, NTPC, INFY, ITC and SBIN
🐻 Bearish setup in Eicher Motor, Aarti Ind, Indhotel, Astral, Ashokley, IEX, Cumminsind, Bandhan Bank and TVS Motor
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