Nifty rose higher at 19,400

Weekly F&O Data
Derivatives - FnO

by 5paisa Research Team Last Updated: Aug 21, 2023 - 08:21 pm 277 Views
Weekly FnO Graph  21 Aug 2023

Our markets started trading for the week on a flat note, but we witnessed some buying interest around 19300. Nifty crept higher gradually during the day and it ended around 19400 with gains of about half a percent.

Nifty has been consolidating within a range since last few days, wherein 19300-19250 has been acting as a support zone. This range, where 50 DEMA coincides with the 23.6 percent retracement level of last four months upmove has now become the immediate support zone. FIIs have covered some of their short positions in index futures on Friday, but their net positions still remain on short side. In options segment, 19300 put options witnessed addition in open interest in Monday’s session, while 19400 call option has highest open interest. Also, the 20 DEMA and a falling trendline resistance are seen around 19480. Thus, it seems that the index could consolidate within a narrow range of 19300-19500 in the near term. A breakout beyond this range would then lead to a directional move and hence, traders are advised to trade with a stock specific approach here. One should keep a close watch on the open interest positions as well, and any significant unwinding in options could give a hint towards the probable near term breakout direction.

The overall market breadth has been positive in this recent corrective phase which is a positive sign. Hence, only a break below 19300-19250 will be a cause of worry and till then, the biasness remains sideways to positive.

How do you rate this blog?


Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.


Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
Open Free Demat Account
Resend OTP
Please Enter OTP
Account belongs to

By proceeding, you agree to the T&C.

Latest Blogs
Swing Trading Stocks: Week of 3 October 2023

Swing Trading Stocks for the Week

  • Sep 29, 2023
Weekly Outlook on Gold - 29 September 2023

Gold prices are facing sustained pressure despite a backdrop of dollar weakness, a rare occurrence that coincides with a decline in yields on US Treasuries. Typically, the strength of the dollar and higher yields have been key components of the Federal Reserve's hawkish monetary policy.

  • Sep 29, 2023
Weekly Market Outlook for 3 October to 6 October

The last week of September turned out to be volatile as the markets corrected during the monthly expiry to test the 19500 mark. We witnessed a strong recovery in Friday’s session, and the index finally ended the week above 19600, with marginally weekly loss.

  • Sep 29, 2023