The Nifty 50 may witness rangebound action in the near term, but if it consistently holds above the key level of 24,700, analysts say a move toward 25,000–25,200 cannot be ruled out. On the downside, crucial support lies near 24,460, the low from last week.
On May 23, the index reversed its five-day trend of lower highs, rising 1% to close at 24,850, right near a key resistance zone. It also moved above the 10-day EMA, signaling a potential bullish setup. On a weekly timeframe, the Nifty traded well above all its major moving averages, suggesting the overall trend remains positive.
Below are 15 key insights and data points to help you prepare for the trading session on May 26:
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1. Key Levels for Nifty 50 (Last Close: 24,853)
•Resistance (Pivot-Based): 24,905 | 24,974 | 25,087
•Support (Pivot-Based): 24,792 | 24,739 | 24,627
Special Formation:
•Formed a long bullish candle with a higher high–higher low structure.
•Traded above all major EMAs.
•Bollinger Band resistance at 25,161 is expanding.
•MACD remains above zero, though with a negative crossover.
•RSI at 59.33 – nearing bullish territory.
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2. Key Levels for Bank Nifty (Last Close: 55,398)
•Resistance (Pivot-Based): 55,455 | 55,594 | 55,818
•Support (Pivot-Based): 55,007 | 54,869 | 54,645
•Resistance (Fibonacci): 56,307 | 58,648
•Support (Fibonacci): 54,117 | 52,892
Special Formation:
•Bullish candle despite lowest volume since Jan 1.
•RSI: 59.74 with a positive crossover.
•MACD: Above zero but slightly weakening.
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3. Nifty Call Options Data
•Max OI: 25,000 (77.26 lakh) – strong resistance
•Followed by: 25,500 (70.77 lakh), 25,800 (55.55 lakh)
•Call Writing: Highest at 25,800 (25.36 lakh), followed by 24,900 and 25,700
•Call Unwinding: Max at 24,600 (-20.46 lakh)
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4. Nifty Put Options Data
•Max OI: 24,000 (97.55 lakh) – strong support
•Followed by: 24,500 and 24,800
•Put Writing: Highest at 24,800 (33.34 lakh), then 24,900 and 24,500
•Put Unwinding: Max at 25,500
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5. Bank Nifty Call Options Data
•Max OI: 55,500 (13.11 lakh) – near resistance
•Followed by: 56,000 and 57,000
•Call Writing: Highest at 56,500
•Call Unwinding: Max at 55,000 (-2.82 lakh)
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6. Bank Nifty Put Options Data
•Max OI: 55,000 (17.02 lakh) – major support
•Followed by: 54,000 and 53,500
•Put Writing: Strongest at 53,500
•Put Unwinding: Max at 57,000
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7. Funds Flow
(Insert detailed fund flow data here if available, such as FIIs and DIIs net positions.)
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8. Put-Call Ratio (PCR)
•Current PCR: 1.09 (Up from 0.94)
•Indicates a bullish sentiment, as traders are adding more Put positions.
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9. India VIX (Volatility Index)
•VIX Level: 17.28 (Up 0.12%)
•Traders should stay cautious while VIX remains above 15, signaling uncertainty.
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10. Long Build-up – 95 Stocks
•These stocks saw both price and OI increase, signaling bullish bets.
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11. Long Unwinding – 12 Stocks
•Stocks where both price and OI dropped, indicating bulls are exiting.
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12. Short Build-up – 37 Stocks
•These stocks saw price fall and OI increase, suggesting fresh short positions.
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13. Short-Covering – 73 Stocks
•A decline in OI and rise in price, indicating that shorts are being closed.
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14. High Delivery Volume Stocks
•Indicates investor (not trader) interest.
(Include specific stock names here if available.)
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15. Stocks Under F&O Ban (May 26)
•Newly Added: Chambal Fertilisers, Hindustan Copper
•Still in Ban: Dixon Technologies, Manappuram Finance, RBL Bank, Titagarh Rail Systems
•Removed from Ban: None
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Disclaimer: The views and recommendations shared above are based on expert analysis and market data. Please consult with a certified financial advisor before making any investment decisions.
