Top 15 Pre-Market Insights for Monday

The Indian stock market is set for a potentially bullish week, with the Nifty 50 poised to breach the 26,500 mark after a period of consolidation. However, it’s essential to stay vigilant and monitor key support levels.

Here are 15 data points to guide your trading strategy:

Nifty 50

Pivot Points:
- Resistance: 26,251, 26,280, 26,328
- Support: 26,154, 26,125, 26,077
Technical Analysis: The Nifty 50 formed a bearish candlestick pattern on the daily charts but maintained bullish patterns on the weekly charts for three consecutive weeks. Positive momentum indicators suggest an upward trend.

Bank Nifty

Pivot Points:
- Resistance: 54,199, 54,334, 54,554
- Support: 53,759, 53,623, 53,403
Fibonacci Retracement:
- Resistance: 54,898, 55,653
- Support: 53,327, 52,631
Technical Analysis: The Bank Nifty recorded a Bearish Belt Hold pattern on the daily charts, indicating potential caution. However, the weekly chart shows a bullish trend.

Options Data

Nifty Call Options: Maximum open interest at the 27,000 strike suggests potential resistance.
Nifty Put Options: Maximum open interest at the 26,000 strike indicates strong support.
Bank Nifty Call Options: Maximum open interest at the 54,500 strike suggests potential resistance.
Bank Nifty Put Options: Maximum open interest at the 54,000 strike indicates strong support.

Other Indicators

Put-Call Ratio: A declining PCR (1.16) suggests a bullish sentiment.
India VIX: A low volatility level (11.96) supports a bullish outlook.
Long Unwinding and Short-Covering: 11 stocks saw long unwinding, while 64 stocks witnessed short-covering.
High Delivery Trades: Several stocks had a high share of delivery trades, indicating investor interest.
F&O Ban: No changes in the F&O ban list.

Remember: While these indicators provide valuable insights, market conditions can change rapidly. Always conduct thorough research and consider consulting with a financial advisor before making any investment decisions.