Nifty trade setup for August 8: In the last hour of the trading session on Thursday, August 7, the Nifty made a good recovery, recovering from the sudden response to Trump’s tariff declaration, it closed with a 22 -point lead. After recovery of 250 points from the lowest level of the day, the index closed slightly above the 100-day EMA (24,595). However, it continued trading below 20-Day and 50-Day EMA (24,850-24,900) which is a sign of recession. Market experts say that the Nifty will have to remain above the 100-day EMA to move towards 24,900. Until this happens, consolidation and business are expected to continue in a limited range with support located at 24350 (Thursday’s low level).
Here you are giving some such figures on the basis of which you will be able to catch profitable deals.
Support and resistance level for nifty
Support based on Pivot Point: 24,414, 24,346 and 24,235
Resistance based on Pivot Point: 24,636, 24,704 and 24,815
Bank nifty
Resistance based on pivot points: 55,615, 55,766 and 56,011
Support based on pivot points: 55,125, 54,974 and 54,729
Resistance based on Fibonacci Retress: 55,988, 56,301
Fibonacci Retress based support: 55,066, 54,370
Nifty call option data
A maximum call of 53.4 L lakh contract has been seen open interest on a strike of 25,000 on the monthly basis, which will work as an important registration level in the upcoming business sessions.
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Nifty put option data
A maximum put open interest of 46.26 lakh contracts has been seen on a strike of 24,500, which will work as important support level in the coming business sessions.
Bank Nifty Call Option Data
The bank Nifty has seen a maximum call open interest of 21.94 lakh contracts on a strike of 57,000, which will work as important registration levels in the upcoming business sessions.
Bank Nifty put option data
The bank Nifty has seen a maximum put open interest of 13.52 lakh contracts on a strike of 57,000, which will work as an important registration level in the upcoming business sessions.
FII and DII Fund Flow
The market fear measuring index, India VIX, climbed above the 12 level yesterday, but finally closed at 11.69 with a decline of 2.28 per cent, which provided some relief to the Tejdis. This index has been hovering around its short term moving average for the last few weeks.
Call call ratio
The Nifty Put-Call Ratio, which depicted the market mood, increased to 1.06 on August 7, compared to 0.74 in the previous season. Significantly, the departure of PCR above 0.7 or 1 cross PCR is generally considered a sign of boom. Whereas the ratio falling below 0.7 or 0.5 is a sign of recession.
Stock under F&O Bain
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Stock removed from F&O ban: no one
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