Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

🔎 *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

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

🔎 *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

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

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

🔎 *Nifty* 

Index opened gap up by 33 points and witnessed whipsaw in the initial hour of the session which was followed by recovery in the next half and finally the last hour saw a decline and quick retrieval. After a roller coaster day within a range of 80 points, the index touched high of 18875 zones merely a few points away from its all-time high levels. Domestic cues are strong and buying across sector is keeping the market afloat. Any small decline is converted into buying and it closed with gains of around 40 points. It formed a Doji sort of candle on daily frame with longer lower shadow

📊 Now it has to hold above 18818 zones to witness an up move towards 18888 and 19000 zones while on the downside support exists at 18786 and 18710 zones

🎢 India VIX was up by 1.44% from 11.13 to 11.29 levels. Volatility was slightly on the rise but moved in its previous day’s range. It has been hovering in a rather smaller range from the last few weeks

 

🧮 On option front, weekly maximum Call OI is at 19000 then 18900 strike while maximum Put OI is at 18800 then 18700 strike. Call writing is seen at 18900 then 19000 strike while Put writing is seen at 18800 then 18850 strike. Option data suggests a shift in broader trading range in between 18600 to 19000 zones while an immediate trading range in between 18700 to 18950 zones

🔎 *Bank Nifty*

Index opened on a positive note near 43900 zones but remained consolidative in a narrow range of 200 points between 43700 to 43900 zones for most part of the session. It formed a small bodied candle on daily scale and ended the day with marginal gains near 43850 zones. Index has been consolidating in between 43333 to 44044 zones from the last five sessions as momentum is missing on either side and it closed near its 20DEMA

📊 Now it has to continue to hold above 43750 zones for a bounce toward 44044 then 44250 zones while on the downside support 43500 then 43333 marks

🔎 *Fin Nifty*

Index continued its bullish momentum right from the initial tick and witnessed buying interest throughout the entire trading session. It has finally managed to surpass its consolidation band of 19000-19636 zones after 35 trading sessions as buying was seen in selective financial heavyweights. It formed a strong bullish candle on daily chart and managed to close above its crucial 20DEMA

📊 Now till it holds above 19500 levels momentum can extend 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 Lupin, Motherson, India Cement, Lichsgfin, Exideind, Powergrid, IGL, Ibulhsgfin, Muthootfin, Recltd, Apollo Tyre, PFC, Metropolis, M&MFin, HDFC, HDFC Bank, Bank Baroda, Bhartiartl, Grasim and Naukri 

🐻 Bearish setup in Poly Cab, AU Bank, Bandhan Bank, Marico, Hindalco, Gail, M&M, ITC, SBI Card and Indusind Bank

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

🔎 *Nifty* 

Index opened flattish and after a decline in the initial hour, it recovered by 180 points to hit intraday high of 18839 marks. It touched intraday low of 18660 which acted as a buying zone. Bulls took control in the last hour and it closed with gains of around 60 points. It formed a Bullish candle on daily frame but broke its higher highs formation of the last five sessions

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

🎢 India VIX was down by 0.78% from 11.22 to 11.13 levels. Volatility fell and comforted the bulls at support zones. It has been hovering in a small range from the last few weeks

 

🧮 On option front, weekly maximum Call OI is at 19000 then 18900 strike while maximum Put OI is at 18700 then 18800 strike. Call writing is seen at 18950 then 19000 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 marginally lower and gradually drifted towards its key support of 43333 marks in the initial half of the session. It witnessed good recovery from lower zones as it wiped out its intraday losses to close in the positive territory near 43750 zones. It formed a Hammer kind of candle on daily scale as buying was seen from lower zones and closed near its 20DEMA

📊 Now it has to hold above 43750 zones for a bounce toward 44044 then 44250 zones while on the downside support 43500 then 43333 marks

🔎 *Fin Nifty*

Index opened flattish and witnessed selling pressure towards 19302 zones in the initial hour of the trading session. However smart recovery was seen in the second half as it trimmed all the intraday losses and closed the day with gains of around 80 points. It formed a Bullish candle on daily chart and hovering near its crucial 20 DEMA indicating overall bullish bias

📊 Now till it holds above 19400 zones momentum can extend towards 19636 then previous life time high of 19778 zones while on the downside supports are placed at 19400 then 19300 zones

*Stocks* 

🚀 Bullish setup in PEL, Balkrishna Ind, Balkrishna, Lalpath Labs, Rec Ltd, Metropolis, Exide Ind, PFC, Jindalstel, Tatamotors, Deepakntr, LTTS, Hcltech, L&TFH, HDFC Life, Powergrid, Cumminsind, Techm, M&MFin, Bata India and LT

🐻 Bearish setup in ZEEL, Concor, SBI Card, Bandhan Bank, Ambujacem, Bharatforg, BPCL and Colpal

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

🔎 *Nifty* 

Index opened positive and touched 18881 in the initial tick which is merely few points away from its life time high of 18888 marks. It kept sliding thereafter during the entire session with slight recovery in the last hour but respected its previous day’s low. It formed a Bearish Belt Hold sort of candle on daily frame and closed with losses of around 70 points. Supports are being respected and it has been making higher highs from the last five sessions but index is facing some pressure and profit booking at higher zones

📊 Now it has to cross and hold above 18777 zones to witness an up move towards 18888 and 19000 zones while on the downside support exists at 18710 and 18676 zones

🎢 India VIX was up by 3.55% from 10.84 to 11.22 levels. Volatility was on the rise and discomforted the bulls on account of profit booking at record high levels

 

🧮 On option front, weekly maximum Call OI is at 18800 then 19000 strike while maximum Put OI is at 18700 then 18600 strike. Call writing is seen at 18900 then 18800 strike while minor Put writing is seen at 18600 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 18850 zones

🔎 *Bank Nifty*

Index opened on a positive note but failed to surpass a key hurdle of 44044 marks and corrected by more than 500 points towards 43500 zones. However some recovery was seen from lower zones but again it failed to hold above 43750 zones and remained in a zig zag manner in the later part of the session. It formed a Bearish candle on daily scale as selling pressure was seen at higher zones and it relatively underperformed the broader market

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

🔎 *Fin Nifty*

Index opened gap up but failed to hold gains and witnessed selling pressure towards 19361 zones. However slow and gradual recovery was seen in the latter half of the trading session. It has been consolidating in a narrow range between 19000 to 19600 levels since the last 33 trading sessions and requires a decisive range breakout on either side to commence the next leg of rally

📊 Now till it holds above 19300 levels momentum can extend towards 19550 then 19636 zones while a fall below the same could take it towards 19200 zones

*Stocks* 

🚀 Bullish setup in Lal Path Labs, M&M Fin, Bank Baroda, ICICI Pru, Dixon, Bajfinance, HDFC Life, Abbot India, Ashokley, HAL, Cumminsind, Intellect and Delta Corp 

🐻 Bearish setup in Motherson, Heromotoco, HDFC AMC, ACC, IGL, Kotak Bank, Marico, Eicher Motor, Gujgas, MGL, Voltas and Havells

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

🔎 *Nifty* 

Index opened positive but failed to cross and hold above 18777-18800 zones and drifted lower throughout the day. It breached its previous day’s low and touched intraday low of 18669 in the last hour to close with losses of around 70 points. Index remained in overall pressure and witnessed profit booking decline. It formed a Bearish candle on daily scale but has been making higher highs from the last three sessions

📊 Now it has to hold above 18676 zones to witness an up move towards 18777 and 18888 zones while on the downside support exists at 18636 and 18550 zones

🎢 India VIX was down by 0.72% from 11.16 to 11.08 levels. Volatility was slightly down and is at overall lower levels causing premiums to squeeze

 

🧮 On option front, weekly maximum Call OI is at 18800 then 18700 strike while maximum Put OI is at 18700 then 18600 strike. Call writing is seen at 18700 then 18800 strike while Put writing is seen at 18700 then 18500 strike. Option data suggests a broader trading range in between 18450 to 18900 zones while an immediate trading range in between 18600 to 18800 zones

🔎 *Bank Nifty*

Index opened on a flattish note and failed to hold above 44044 marks and gradually drifted by more than 500 points towards 43400 zones. It finally broke its crucial 20DEMA on the daily scale and gave a range breakdown after fourteen sessions. It formed a Big Bearish candle on daily scale as sustained selling pressure was seen throughout the day as private Banks remained under pressure

📊 Now till it holds below 43750 zones weakness could be seen towards 43250 then 43000 levels while on the upside hurdle is placed at 43750 then 44000 levels

🔎 *Fin Nifty*

Index opened flattish and witnessed sustained selling pressure throughout the trading session. It gave a range breakdown of the last twelve trading sessions and closed below its crucial 20DEMA which implies pause in the current up move. It formed a Bearish Marubozu candle on daily frame which suggests dominance by bears. 

📊 Now till Fin Nifty holds below 19350 levels weakness could be seen towards 19100 then 18980 zones while on the upside hurdle is seen at 19372 then 19500 levels

*Stocks* 

🚀 Bullish setup in L&TFH, Godrejprop, Apollo Hospital, IDFC First Bank, Drreddy, Cipla, Lupin, Dabur, BPCL, Nestleind, ITC, M&M, Bata India and Asian Paint

🐻 Bearish setup in ZEEL, RBL Bank, Heromotoco, PNB, Can Bank, Bandhan Bank, Tatachem, Bank Baroda, Wipro, Federal Bank, SBIN, Kotak Bank, HDFC Bank, Eicher Motor and HDFC

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

◆ Nifty index opened positive and after a slight decline in the initial tick, it regained strength and moved in the upward direction throughout the day. It touched intraday high of 18768 zones and closed with gains of around 40 points. Index remained afloat but has been moving in a lackluster way. It formed a Bullish candle on daily scale and bulls established a strong closing after days of lackluster move

◆ Now it has to hold above 18676 zones to witness an up move towards 18888 and 19000 zones while on the downside support exists at 18676 and 18636 zones

◆ India VIX was up by 0.47% from 11.11 to 11.16 levels. Volatility was slightly high but overall lower levels have supported the bulls at higher zones

 

◆ On option front, weekly maximum Call OI is at 18900 then 18800 strike while maximum Put OI is at 18700 then 18600 strike. Minor Call writing is seen at 18850 then 18900 strike while meaningful Put writing is seen at 18700 then 18750 strike. Option data suggests a broader trading range in between 18500 to 18900 zones while an immediate trading range in between 18650 to 18850 zones

◆ Bank Nifty opened on a positive note near 44200 zones but failed to hold its opening gains and drifted gradually towards 43950 zones. It remained consolidative in a narrow range of 100 points for most part of the session and closed below 44000 zones. It formed a Bearish candle on daily scale as it closed below its opening levels but index is holding above its crucial support of 20 DEMA. It has got stuck in range of 300 points from past few sessions and requires a decisive close above 44144 zones for any major momentum

◆ Now it has to hold above 44044 zones for an up move towards 44250 then 44500 zones while on the downside support is seen at 43900 then 43750 levels

◆ Bullish setup in Tataconsum, Oberoirlty, Zydus Life, Tatacomm, Grasim, HAL, IDFC First Bank, OFSS, Tatasteel, L&TFH, Jswsteel, MGL, Godrejprop, Ashokley, Tatamotors, Trent and Apollo Hospital

◆ Bearish setup in Bandhan Bank, Ipca Labs, Balram Chini, BHEL, MFSL and HDFC

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

◆ Nifty index opened positive and witnessed a stellar move in the first tick which was followed by some consolidative move and remained in the positive territory. It touched intraday high of 18728 zones and closed with gains of around 110 points. It formed a Bullish candle on daily scale and bulls established a strong closing after days of lackluster move

◆ Now it has to hold above 18676 zones to witness an up move towards 18777 and 18888 zones while on the downside support exists at 18636 and 18550 zones

◆ India VIX was down by 1.16% from 11.24 to 11.11 levels. Volatility cooled off today which comforted the bulls at higher zones

 

◆ On option front, weekly maximum Call OI is at 18900 then 18700 strike while maximum Put OI is at 18700 then 18600 strike. Minor Call writing is seen at 18900 then 18800 strike while meaningful Put writing is seen at 18700 then 18650 strike. Option data suggests a broader trading range in between 18500 to 18900 zones while an immediate trading range in between 18600 to 18800 zones

◆ Bank Nifty managed to hold its previous day’s low and gradually moved higher towards 44120 marks in the initial hour of the session. Later it remained consolidative in a narrow range of 150 points while good spurt of 100 points was seen in the last hour of the day. It formed a Bullish candle on daily scale and negated the formation of lower highs after three trading sessions. Overall buying is visible at lower zones and index is holding above its crucial support of 20 DEMA

◆ Now it has to hold above 44044 zones for an up move towards 44250 then 44500 zones while on the downside support is seen at 43900 then 43750 levels

◆ Bullish setup in Tatacomm, OFSS, Trent, Dixon, ABB, Berger Paint, Cumminsind, Godrejprop, DLF, Auropharma, IDFC First Bank, IDFC, BEL, Cholafin, Asian Paint, Siemens, Titan, LTTS, MuthootFin, ITC, Mcdowell, Bata India, Poly Cab, Naukri, Colpal, Dabur, Axis Bank and Ultracemco

◆ Bearish setup in Concor, Kotak Bank, Maruti, SBIN and Wipro

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

◆ Nifty index opened flattish and moved in the positive direction but failed to hold above 18777 zones and drifted lower in the second half of the session. It broke its intraday support zones as a result of profit booking at higher zones and closed with losses of around 90 points. Some sort of pause could be seen at record levels but overall set up remains positive. It formed a Bearish candle and an outside Bar on daily scale

◆ Now it has to cross and hold above 18666 zones to witness an up move towards 18786 and 18888 zones while on the downside support exists at 18580 and 18530 zones

◆ India VIX was down by 1.60% from 11.44 to 11.25 levels. Volatility sunk to 10 zones during the day and comforted the bull at higher zone but was followed by a slight rise

◆ On option front, weekly maximum Call OI is at 18700 then 18800 strike while maximum Put OI is at 18700 then 18600 strike. Call writing is seen at 18700 then 18800 strike while Put writing is seen at 18700 then 18500 strike. Option data suggests a broader trading range in between 18450 to 18900 zones while an immediate trading range in between 18550 to 18800 zones

◆ Bank Nifty opened on a flattish note but managed to hold 44200 zones initially and gradually moved towards 44459 marks in the first half of the session. However it failed to hold 44444 marks and quickly drifted again towards 43900 zones in the latter part of the trading session. It formed a Bearish candle on daily scale as selling pressure was seen at higher zones however multiple supports are intact at lower zones and it closed near its crucial 20 DEMA levels

◆ Now it has to cross and hold above 44044 zones for an up move towards 44250 then 44500 zones while on the downside support is seen at 43750 then 43500 levels

◆ Bullish setup in Dixon, NTPC, Jswsteel, HAL, Powergrid, Indigo and LT 

◆ Bearish setup in IEX, Indhotel, Kotak Bank, ABFRL, Mphasis, India Mart, Sunpharma and GNFC

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

◆ Nifty index opened gap up by 66 points near key level of 18666 marks and kept moving in the northward direction throughout the day. It held on to its higher zones with some consolidation in the first half of the session followed by a sharp rally in the next half of the day. It touched intraday high of 18738 zones and closed strongly near its day’s high with gains of around 130 points. It formed a Bullish candle on daily scale with longer lower shadow indicating support based buying at any minor dip. Index has given a range breakout on daily frame and gave the second highest ever close

◆ Now it has to continue to hold above 18666 zones to witness an up move towards 18800 and 18888 zones while on the downside support exists at 18636 and 18580 zones

◆ India VIX was up by 0.55% from 11.38 to 11.44 levels. Volatility sunk below 10 zones during the day but finally closed a tad bit higher but overall comforted the bull for the fresh leg of rally in the index

◆ On option front, weekly maximum Call OI is at 18800 then 18700 strike while maximum Put OI is at 18600 then 18500 strike. Call writing is seen at 18850 then 18900 strike while Put writing is seen at 18700 then 18650 strike. Option data suggests a broader trading range in between 18450 to 18900 zones while an immediate trading range in between 18600 to 18800 zones

◆ Bank Nifty opened on a positive note but failed to move above 44350 zones and gradually drifted towards its crucial 44144 level in the first half of the session. However some recovery was seen from lower levels in the last hour of the session and it formed a small bodied candle on daily scale with long lower shadow. It relatively underperformed the broader market and remained consolidative in narrow range of 200 points

◆ Now it has to continue to hold above 44144 zones for an up move towards 44500 then 44750 zones while on the downside support exists at 44044 and 43750 zones

◆ Bullish setup in Hindpetro, Glenmark, Canfin Homes, UBL, Tataconsum, Britannia, BPCL, Nestleind, Piind, Jswsteel, Tatacomm, Tatasteel, Tatamotors, HAL, ABB, Heromotoco, Powergrid, IOC, LT, Siemens, Cholafin, Apollo Hospital, Escorts, IRCTC, Bata India and SRF

◆ Bearish setup in Ibulhsgfin and Zydus Life

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

◆ Nifty index opened positive but failed to hold above 18620 zones and drifted lower for the first half of the session to touch 18530 zones. It recovered in the next half of the session and managed to close near 18600 with gains of around 5 points. It moved in a rather staggered way for most part of the day followed by a swift recovery in the last hour. It formed a Doji sort of candle on daily scale with longer lower shadow indicating support based buying on declines

◆ Now it has to continue to hold above 18580 zones to witness an up move towards 18666 and 18750 zones while on the downside support exists at 18480 and 18442 zones

◆ India VIX was up by 2.15% from 11.12 to 11.38 levels. Volatility negated its lower highs formation on daily frame but overall lower levels is keeping the index in a smaller range

◆ On option front, weekly maximum Call OI is at 18600 then 18800 strike while maximum Put OI is at 18500 then 18600 strike. Call writing is seen at 18750 then 18800 strike while Put writing is seen at 18550 then 18400 strike. Option data suggests a broader trading range in between 18300 to 18800 zones while an immediate trading range in between 18450 to 18700 zones

◆ Bank Nifty opened on a flattish note but failed to hold above 44200 and gradually drifted towards 44000 zones in the first half of the session. However some recovery seen from lower levels in the last hour of the session and it formed a Doji sort of candle on daily scale as buying interest was seen at lower zones. Overall it remained consolidative in narrow range of 200 points as selective private banks continue to hold the Index while few public banks remained lacklustre

◆ Now it has to continue to hold above 44044 for an up move towards 44500 then 44750 zones while on the downside support exists at 44000 and 43750 zones

◆ Bullish setup in Ambujacem, Oberoirlty, HAL, Ultracemco, ACC, Glenmark, TVS Motor, IDFC, BEL, Tatacomm, Axis Bank, Tatamotors, Maruti, Cumminsind, Grasim, M&M, Bajfinance and Deepakntr 

◆ Bearish setup in IEX, Mphasis, Coforge, Voltas, LTTS, OFSS, INFY, Techm, TCS, ONGC and Hcltech

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

◆ Nifty index opened gap up by around 80 points but moved in a consolidative manner throughout the day. It respected support of 18580 zones but failed to move above 18640 zones and remained in a narrow range of 50 points. It formed a small bodied candle on daily scale and negated its lower highs formation of the last three sessions to close with gains of around 60 points

◆ Now it has to hold support of 18580 zones to witness an up move towards 18750 and 18888 zones while on the downside support exists at 18480 and 18442 zones

◆ India VIX was up by 0.16% from 11.12 to 11.13 levels. Volatility is marginally up but has been overall cooling off and thus in turn creating swings within a smaller range in the indices

◆ On option front, weekly maximum Call OI is at 18600 then 18700 strike while maximum Put OI is at 18500 then 18600 strike. Call writing is seen at 18700 then 18650 strike while Put writing is seen at 18500 then 18400 strike. Option data suggests a broader trading range in between 18300 to 18800 zones while an immediate trading range in between 18400 to 18700 zones

◆ Bank Nifty opened on a positive note near 44100 zones but remained consolidative in a narrow range of 100 points between 44150 to 44250 zones for most part of the trading session. It formed a Doji candle on daily scale as some profit booking was seen from higher zones in the last hour of the session and it closed at it opening zones. However it negated the formation of lower highs after four sessions to close with gains of around 160 points. It is holding well above its 20DEMA on daily scale and buy on dips stance likely to continue

◆ Now it has to continue to hold above 44044 for an up move towards 44250 then 44500 zones while on the downside support exists at 43750 and 43500 zones

◆ Bullish setup in HAL, M&M, BHEL, ICICI Pru, Axis Bank, BEL, Tatamotors, Grasim, Tatapower, LT, Deepakntr, Reliance, Maruti, Tatasteel, Indusind Bank, Cumminsind, SRF, Indigo and Glenmark

◆ Bearish setup in AU Bank, Manappuram, VEDL, MFSL, BPCL, MGL, TCS and Kotak Bank

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

◆ Nifty index opened positive but failed to surpass immediate hurdle of 18580 zones and remained volatile in broader trading range in between 18480 to 18580 zones for most part of the day. It formed a small bodied Bearish candle and an inside bar on daily scale with longer lower shadow indicating support based buying is intact. It has been forming lower highs from the last three sessions and closed the day with gains of around 45 points. It formed a small bodied Bearish candle on weekly frame but has been forming higher highs from the last ten weeks

◆ Now it has to hold support of 18442 zones to witness an up move towards 18666 and 18750 zones while on the downside support exists at 18442 and 18333 zones

◆ India VIX was down by 4.09% from 11.59 to 11.12 levels. Volatility has been cooling off and thus in turn creating swings within a smaller range in the indices making it choppy for most part of the session

◆ On option front, weekly Maximum Call OI is at 18600 then 18500 strike while Maximum Put OI is at 18500 then 18400 strike. Call writing is seen at 18600 then 18800 strike while Put writing is seen at 18500 then 18300 strike. Option data suggests a broader trading range in between 18200 to 18800 zones while an immediate trading range in between 18300 to 18700 zones

◆ Bank Nifty opened on a positive note but failed to surpass 44044 marks and drifted towards 43800 zones in the first hour of the day. However it recovered from lower zones and extended its movement towards its opening level near 44088 zones. Later on it consolidated in a range of 200 points in between 43800 to 44020 zones and formed an Inside Bar on daily scale. It has been forming lower highs - lower lows on daily scale from the past three sessions but holding well above its 20DEMA. It formed a Bearish candle on weekly scale but structure of higher highs is intact from the last ten weeks

◆ Now it has to cross and hold above 44044 for an up move towards 44250 then 44500 zones while on the downside support exists at 43750 and 43500 zones

◆ Bullish setup in PFC, HAL, Hindalco, Heromotoco, Astral, Tatacomm, Apollo Hospital, DLF, Rec Ltd, Trent, Tatasteel, Poly Cab, TVS Motor, NMDC, Mphasis, Lauras Labs, Can Bank, M&M, Titan, Zydus Life, M&MFin, Sunpharma and Maruti

◆ Bearish setup in MGL, Gujgas, IGL, BPCL and Hindpetro

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

◆ Nifty index opened positive and remained choppy for first half of the session. It was finding tough to surpass any immediate hurdle and bears were sliding the index lower to breach its previous day’s low levels in the last hour of the day to touch 18464 marks. It has been witnessing profit booking from last two sessions and closed with losses of around 50 points. It formed a Bearish Belt Hold candle on daily scale and has been forming lower lows from the last three sessions

◆ Now it has to find support near 18442 zones, then only we can witness a bounce towards 18580 and 18666 zones while a hold below 18442 could open the further decline towards 18333 and 18181 zones

◆ India VIX was down by 3.11% from 11.97 to 11.59 levels. Volatility cooled off and thus in turn created swings within a smaller range in the indices making it choppy for most part of the day

◆ On option front, weekly Maximum Call OI is at 18600 then 18500 strike while Maximum Put OI is at 18500 then 18400 strike. Call writing is seen at 18600 then 18500 strike while Put writing is seen at 18500 then 18300 strike. Option data suggests a broader trading range in between 18200 to 18800 zones while an immediate trading range in between 18300 to 18700 zones

◆ Bank Nifty opened on a flattish note and remained consolidative in a narrow range of 200 points between 43950 to 44150 zones in the first half of the session. However it failed to hold its key level of 44144 marks and corrected sharply towards 43700 zones in the last hour of the session. It formed a Bearish Belt Hold Candle on daily scale as selling pressure was seen at higher zones and index ended with losses of around 340 points

◆ Now till it holds below 44044 zones some weakness could be seen towards 43500 then 43333 levels while on the upside hurdle is seen at 44144 then 44250 zones

◆ Bullish setup in Apollo Hospital, India Cement, RBL Bank, M&M Fin, Naukri, Intellect, Canfin Homes, Marico, Glenmark, Tatacomm, Havells, Indhotel, Bajaj Auto, Pidilitind, Tatamotors, Poly Cab, Asian Paint, Sunpharma, IDFC First Bank and Nestle Ind 

◆ Bearish setup in IGL, Navinfluor, SRF, Jindalstel, ICICI Bank, Petronet and GNFC

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

◆ Nifty index opened positive and moved in a zig zag fashion throughout the day. It remained in a narrow range in the second half of the day and finally closed with gains of around 36 points. Any small declines were converted into buying opportunity and it sustained at higher zones. It formed a Bullish candle on daily scale and gave the highest daily close of the last 112 sessions

◆ Now it has to hold above 18550 zones, for an up move towards 18750 and 18888 zones while on the downside support exists at 18550 and 18442 zones

◆ India VIX was down by 2.36% from 12.29 to 12.01 levels. Volatility was down thus giving some comfort to the bulls to buy at any small decline at record high index 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 18800 then 18700 strike while Maximum Put OI is at 18300 then 18600 strike. Minor Call writing is seen at 18850 then 18650 strike while Put writing is seen at 18600 then 18650 strike. Option data suggests a broader trading range in between 18400 to 18800 zones while an immediate trading range in between 18500 to 18750 zones

◆ Bank Nifty opened slightly negative and bulls were seen in action in the first tick and then later touched a new all-time high of 44498 levels. It was followed by a small decline and then recovered in the next half of the session. It respected its previous day’s low levels and closed above 44400 zones with gains of around 120 points. It formed a Bullish candle on daily scale and gave the highest ever close

◆ Now it has to continue to hold above 44144 zones for an up move towards 44750 then new life high of 45000 zones while on the downside support exists at 44144 then 44000 zones

◆ Bullish setup in Auropharma, RBL Bank, PFC, Rec Ltd, AB Capital, Ramco Cement, IDFC, JK Cement, HAL, IDFC First Bank, Indigo, Hindcopper, HDFC Life, Berger Paint, Indhotel, Poly Cab, Trent, DalBharat, Bandhan Bank, Bajfinance, Cumminsind, Ultracemco, Axis Bank and Asian Paint

◆ Bearish setup in Hindalco, SAIL, Tatachem, IEX and BPCL

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

◆ Nifty index opened gap down and was followed by buying interest but it failed to surpass 18400 zones and slipped in the next half of the session. It cascaded down most part of the day and it closed with losses of around 60 points. It formed a long pin bar on daily scale with higher upper shadow indicating pressure at higher zones. It negated its higher highs - higher lows formation of the last two sessions

◆ Now it has to hold above 18281 zones, for a bounce towards 18400 and 18442 zones while on the downside supports exist at 18181 and 18081 zones

◆ India VIX was up by 4.07% from 12.60 to 13.11 levels. Volatility has been rising from the last three sessions and causing swings in the market

◆ On Option front, monthly maximum Call OI is at 18400 then 18500 strike while maximum Put OI is at 18300 then 18200 strike. Call writing is seen at 18400 then 18300 strike while Put writing is seen at 18200 then 18300 strike. Option data suggests an immediate trading range in between 18150 to 18400 zones

◆ Bank Nifty opened on a negative note but gradually recovered its intraday losses and extended its movement towards 44000 zones in the first half of the session. Later it failed to hold 44000 zones and drifted lower towards 43650 zones in the last hour of the session. Index has got stuck in between 43333 to 44144 zones from the past ten trading sessions and follow up is missing on either side. It has formed a small bearish candle on daily scale with upper shadow as selling pressure is seen at upper band of the range and it ended in negative territory below 43700 zones

◆ Now it has to hold above 43750 zones for a bounce towards 44144 then 44250 zones while a hold below the same could see some weakness towards 43500 then 43333 marks

◆ Bullish setup in Deepakntr, L&TFH, Syngene, Havells, Mcdowell, Apollo Tyre, Indusind Bank, Indhotel, Coal India, ITC, Heromotoco, TVS Motor, BEL, Maruti, IOC, AU Bank and Axis Bank

◆ Bearish setup in Cummisnind, India Cement, Jindalstel, Federal Bank, ZEEL, HDFC Bank, HDFC Ltd and Kotak Bank

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

◆ Nifty index opened flattish and witnessed buying interest throughout the day and it went on to touch 18335 zones. The second half of the session was comparatively range bound and it finally closed with gains of around 110 points. Buying at support zones continued from its previous session and it remained afloat. It formed a Bullish candle on daily scale and negated its lower highs formation of the last four sessions

◆ Now it has to hold above 18281 zones, for an up move towards 18400 and 18442 zones while on the downside support exists at 18181 and 18081 zones

◆ India VIX was up by 2.20% from 12.30 to 12.57 levels. Volatility was slightly high during the day but overall lower levels continued comforting the bulls at support zones

◆ On Option front, monthly Maximum Call OI is at 18500 then 18300 strike while Maximum Put OI is at 18200 then 18000 strike. Call writing is seen at 18500 then 18300 strike while meaningful Put writing is seen at 18200 then 18300 strike. Option data suggests a broader trading range in between 18000 to 18500 zones while an immediate trading range in between 18150 to 18450 zones

◆ Bank Nifty opened on a flattish note but failed to hold 44000 zones and drifted gradually towards 43700 zones in the latter part of the session. Some recovery was seen from lower zones in the last hour but it relatively underperformed the broader market to close with marginal losses of around 80 points. It formed a small bodied candle on daily scale as buying is visible at lower zones while multiple hurdles are intact at higher levels. Index has got stuck in between 43333 to 44144 zones from the past seven sessions and follow up is missing on either side

◆ Now it has to continue to hold above 43750 zones for an up move towards 44144 then 44250 zones while on the downside support is seen at 43500 then 43333 levels

◆ Bullish setup in Balkrisind, Ambuja Cement, Ramco Cement, BEL, Mphasis, Persistent, Techm, LTTS, TCS, Coforge, Hcltech, Bsoft, Cumminsind, DLF, IOC, AU Bank, Apollo Tyre, ITC, HAL, Maruti and M&M 

◆ Bearish setup in Siemens, Alkem and UBL

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

◆ Nifty index opened gap up above 17700 zones and after an initial dip in the first hour of the session, it was followed by consolidation and a rise in the second half. Bulls showed their strength and took the index above to 17750 zones. It managed to close on a strong note near it’s day’s high after the consolidation of the last three sessions and closed with gains of around 120 points. It formed a Bullish candle on daily frame with longer lower shadow indicating support based buying

◆ Now it needs to hold above 17717 zones to witness an up move towards 17777 and 17850 zones while on the downside supports are placed at 17620 and 17550 marks

◆ India VIX was up by 0.32% from 11.63 to 11.66 levels. Volatility spiked above 12 zones but later sunk and has overall has dried up to consistently hover at its lower zones

◆ On Option front, Maximum Call OI is at 18000 then 17800 strike while Maximum Put OI is at 17700 then 17600 strike. Minor Call writing is seen at 17800 then 17900 strike while Put writing is seen at 17700 then 17600 strike. Option data suggests a shift in trading range in between 17500 to 18000 zones while an immediate trading range in between 17600 to 17900 zones

◆ Bank Nifty opened on a positive note with gains of 300 points but remained consolidative in a narrow range of 150 points between 42300 to 42450 zones in the first half of the session. It witnessed good momentum in latter part of the session and extended the move towards 42700 levels. It formed a Bullish candle on daily scale as strong momentum was seen in banking space and it ended the day with gains of nearly 520 points. It gave a Symmetrical Triangle breakout on daily scale and has relatively outperformed the broader market

◆ Now it has to hold above 42500 zones for an up move towards 43000 then 43200 levels while on the downside support shift higher 42250 then 42000 zones

◆ Bullish setup in Tataconsum, IDFC First Bank, OFSS, L&TFH, Can Fin Homes, Can Bank, Colpal, Bank Baroda, SBIN, Titan, Axis Bank, Rec Ltd, ICICI Bank, IDFC, Lupin, Nestle Ind, HDFC, Poly Cab, SRF and Bajaj Auto

◆ Bearish setup in Lauras Labs, ZEEL, PVR, Voltas, Cipla, DIXON, Maruti and Bhartiartl