Technical & Derivative Outlook – Nifty & Bank Nifty
Technical Overview
The market is currently at a crucial juncture with key resistance and support levels dictating short-term sentiment. Here's how the setup looks:
Nifty & Sensex Key Levels
| Index | Immediate Resistance | Upside Target on Breakout | Next Resistance Zone | Key Support | Downside Target |
|---|---|---|---|---|---|
Nifty | 25,500 | 25,670 | 25,800–25,900 | 25,300 | 25,000–24,950 |
Sensex | 83,600 | 84,100 | 85,000–85,300 | 83,000 | 82,100–81,900 |
For the bulls, 25,500/83600 would act as an immediate resistance zone. If the market succeeds in trading above this level, it could move up to 25,670/84100.
A successful breakout above this could push the market towards 25,800–25,900/85000-85300.
On the flip side, if the market falls below 25,300/83000, sentiment could turn negative. Below this level, the market could slip to 25,000–24,950/82100-81900.
Bank Nifty Snapshot
| Parameter | Level |
|---|---|
20-day SMA | 56,500 |
Support Below 20-day SMA | 56,200–56,000 |
Resistance Above 20-day SMA | 57,500–57,800 |
For Bank Nifty, the 20-day SMA (Simple Moving Average) at 56,500 is a key level to watch. Below this, Bank Nifty could decline to 56,200–56,000.
On the other hand, as long as it remains above 56,500, the chance of reaching 57,500–57,800 remains bright.
Derivative Market Insights
Market Recap
| Index | Movement |
|---|---|
Nifty | Slipped below 25,450 intraday but rebounded sharply to close with a gain of 0.22% |
Nifty Midcap 100 | Underperformed, ending marginally lower by 0.01% |
Options Market Metrics
| Metric | Value |
|---|---|
Significant Call OI | 26,000 Call |
Significant Put OI | 25,000 Put |
Put-Call Ratio (PCR) | 0.76 |
Max Pain | 25,450 |
VWAP Range | 25,310 – 25,610 |
Sentiment Indicator | Call Writing > Put Writing → Cautious Undertone |
Investments in securities market are subject to market risks, read all the related documents carefully before investing. This information is purely backed by KSL research analyst based on research recommendation. Kotak Securities Ltd has registration granted by SEBI, Enlistment as RA and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Registered Office: 27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai 400051. SEBI Registration No. INZ000200137 (Member of NSE, BSE, MSE, MCX & NCDEX), Member Id: NSE-08081; BSE-673; MSE-1024; MCX-56285; NCDEX-1262. Research Analyst INH000000586; BSE Enlistment No: 5035 for compliance T&C and disclaimers, Visit https://ddei5-0-ctp.trendmicro.com:443/wis/clicktime/v1/query?url=https%3a%2f%2fbit.ly%2flongdisc&umid=818E14E7-34FE-7906-906B-8F0B1C42A394&auth=d2c41a7df2e2ef1fca42bbbefb1c825d24cf1548-36f3d1caa4f5ef82b030dac05eca909befcec775,