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In the absence of any significant catalyst, the Nifty benchmark index

commenced trading with little change. Unlike the preceding session,

there was a lack of buying interest at higher levels, causing prices to

decline during the mid-session, reaching an intraday low of 19329.

However, this decline was met with buying interest as prices

subsequently retested the 19400 level during the final hour and

concluded a tad above it with no major price change.

From a technical perspective, there's no major change, and prices

decline, emphasizing the importance of this resistance level. To sustain

the upward momentum, prices must convincingly breach these key

levels. Beyond this, the Descending Trend-line resistance at

approximately 19600 and the previous high at around 19850 would

represent significant resistance levels. Conversely, if the market

encounters selling pressure at current levels, a downside correction is

likely to ensue. In this case, the immediate support level would be

19300, followed by support around the bullish gap left at 19175 and

Support 1 – 19300 Resistance 1 – 19480

Support 2 – 19175 Resistance 2 – 19530

Nevertheless, we reiterate to remain cautious and be selective in

your buying approach. Traders should monitor these levels,

especially in light of the weekly expiry, and adjust their trading

Key Levels

Support 1 – 43400 Resistance 1 – 43850

Support 2 – 43200 Resistance 2 – 44000

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View

recouped by the bulls. Eventually the Nifty50 index

worth Rs. 125 cr in Index futures with a decrease in

open interest, indicating short covering.

changes in the key indices. On the options front, the

highest OI concentration is seen at 19300 put strike,

suggesting a strong nearby support. On the higher

end, the 19500-call strike has the highest OI

concentration, indicating intermediate resistance.

FIIs further curtailed bearish bets in index futures

segment; Long Short Ratio remains unchanged at

0.98% as the market closed at 19406.70.

70.20 points against a premium of 74.75 points in the

last trading session. The December series closed at a

premium of 174.80 points.

same time, the PCR-OI of Nifty has decreased from 1.14

to 1.07.

cost of carry are TRENT, ALEKM, IOC, HINDPETRO and

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STOCK

OPTIONS

Total

Stock Futures

Stock Options

500,000

1000,000

4500,000

5000,000

18800 18900 19000 19100 19200 19300 19400 19500 19600 19700 19800 19900 20000 20100

Call Put

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Scrips S2 S1 PIVOT R1 R2

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