Shubham Agarwal

After a fall of extra than 7 percentage, a rebound from 16,850 gave a few comfort to the Nifty. The benchmark traded withinside the broader variety of 17,515-16,850 after touching an all-time excessive of 18,594 in October expiry.

The Nifty took guide round 16,850 and close save final week with mild profits of 1.17 percentage at 17,252.00. On the OI (open interest) front, lengthy build-up changed into visible withinside the Nifty over the week gone.

Bank Nifty additionally witnessed consolidation. After a advantage of round 0.fifty four percentage final week, Bank Nifty closed round 39,353.50 and traded among 36,966 and 35,459 over the week. On the OI front, lengthy unwinding changed into witnessed withinside the Bank Nifty over the week gone.

Diving into the Nifty upcoming weekly expiry, Call writers are displaying aggressions with the aid of using constructing extra function as compared to place writers.

For Nifty, the instantaneously resistance stands on the 17,500 ranges wherein almost fifty six lakh stocks were added, observed with the aid of using critical resistance at 18,000 with 60 lakh stocks maximum amongst all.

On the decrease side, the instantaneously guide stage is at 17,two hundred, wherein almost 26 lakh stocks observed 17,000 with an addition of 27 lakh stocks.

Looking on the Bank Nifty upcoming weekly expiry data, at the top side, instantaneously resistance stands at 36,500 (15 lakh stocks) observed with the aid of using 37,000 (17 lakh stocks). Whereas, at the downside, 36,000 (eleven lakh stocks) stand on the instantaneously guide stage and observed with the aid of using 35,500 (12 lakh stocks) because the critical guide stage.

India VIX, worry gauge, reduced with the aid of using eleven.50 percentage from 20.eighty to 18.39 over the week. India VIX is buying and selling close to the bottom stage of pre-COVID crash. Cool off withinside the IV has given rest to the market. Further, any downticks in India VIX can push the upward momentum withinside the Nifty.

Looking on the sentimental indicator, Nifty OI PCR for the week has elevated from 0.727 to 0.914. Bank Nifty OIPCR over the week elevated from 0.537 to 0.713, as compared to final Friday.

Most of the sectoral indices have contributed definitely along with IT and NBFC have together contributed almost +a hundred and eighty withinside the Nifty’s two hundred factors advantage. Whereas pharma and telecom collectively made up almost 33 factors at the terrible side.

Looking toward the pinnacle gainer and loser shares of the month withinside the F&O segment, we see Idea topping the gainers with over 22 percentage rise, observed with the aid of using Indiabulls Housing at 12.2 percentage, and Metropolis at 9.four percentage. Delta Corp has misplaced over 14.1 percentage, PI Industries eleven.7 percentage, and Reliance Industries 10 percentage over the week.

Considering the bullish momentum along, this week may be approached with a low-threat method like Modified Call Butterfly in Nifty.