After a day of minor profit booking, the Nifty 50 staged a six-tenths of a percent rally on July 23 and closed above short-term moving averages as well as a falling resistance trendline, continuing its formation of higher highs and higher lows. Hence, going forward, 25,250 is expected to be a crucial zone to watch. If the index climbs and sustains above this level, an upward move toward 25,350–25,400 is possible in the upcoming sessions. However, if it fails to do so, consolidation and range-bound trading may continue, with support at 25,100–25,000, experts said.

Here are 15 data points we have collated to help you spot profitable trades:

1) Key Levels For The Nifty 50 (25,220)

Resistance based on pivot points: 25,236, 25,271, and 25,328

Support based on pivot points: 25,123, 25,088, and 25,032

Special Formation: The Nifty 50 formed a bullish candle on the daily timeframe while defending the previous day's low for the third consecutive session. The index clawed back above the short-term moving averages (10- and 20-day EMAs), which is positive. The MACD histogram showed further improvement, and the RSI at 52.29 is on the verge of a positive crossover. The Stochastic RSI sustained its bullish crossover.

2) Key Levels For The Bank Nifty (57,210)

Resistance based on pivot points: 57,262, 57,388, and 57,592

Support based on pivot points: 56,855, 56,729, and 56,525

Resistance based on Fibonacci retracement: 57,324, 57,628

Support based on Fibonacci retracement: 56,681, 56,389

Special Formation: The Bank Nifty maintained a higher-lows formation for the third consecutive session and reported a bullish candle with a lower shadow within the previous day's range. The index climbed above short-term moving averages and also closed above the downward-sloping resistance trendline. The RSI at 56.7 and the Stochastic RSI showed a bullish crossover, while the MACD histogram continued to improve. This indicates strengthening momentum.

3) Nifty Call Options Data

According to the weekly options data, the 25,500 strike holds the maximum Call open interest (with 1.05 crore contracts). This level can act as a key resistance for the Nifty in the short term. It was followed by the 25,200 strike (95.97 lakh contracts), and the 26,000 strike (73.71 lakh contracts).

Maximum Call writing was observed at the 25,600 strike, which saw an addition of 12.07 lakh contracts, followed by the 25,700 and 25,650 strikes, which added 6.49 lakh and 5.76 lakh contracts, respectively. The maximum Call unwinding was seen at the 25,100 strike, which shed 90.11 lakh contracts, followed by the 25,150 and 26,000 strikes, which shed 47.25 lakh and 46.55 lakh contracts, respectively.

4) Nifty Put Options Data

On the Put side, the maximum Put open interest was observed at the 25,100 strike (with 1.23 crore contracts), which can act as a key support level for the Nifty. It was followed by the 25,200 strike (1.17 crore contracts) and the 25,000 strike (1.14 crore contracts).

The maximum Put writing was placed at the 25,200 strike, which saw an addition of 92.12 lakh contracts, followed by the 25,150 and 25,100 strikes, which added 76.97 lakh and 47.97 lakh contracts, respectively. The maximum Put unwinding was seen at the 24,650 strike, which shed 3.42 lakh contracts, followed by the 24,550 and 25,500 strikes, which shed 2.4 lakh and 1.53 lakh contracts, respectively.

5) Bank Nifty Call Options Data

According to the monthly options data, the maximum Call open interest was seen at the 57,000 strike, with 14.72 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 59,000 strike (12.07 lakh contracts) and the 57,500 strike (11.71 lakh contracts).

Maximum Call writing was visible at the 58,700 strike (with the addition of 68,285 contracts), followed by the 59,200 strike (63,630 contracts), and the 57,700 strike (53,865 contracts). The maximum Call unwinding was seen at the 57,000 strike, which shed 5.11 lakh contracts, followed by the 56,000 and 57,500 strikes, which shed 3.49 lakh and 3.14 lakh contracts, respectively.

6) Bank Nifty Put Options Data

On the Put side, the 57,000 strike holds the maximum Put open interest (with 15.28 lakh contracts), which can act as a key support level for the index. This was followed by the 56,000 strike (13.8 lakh contracts) and the 56,500 strike (8.76 lakh contracts).

The maximum Put writing was observed at the 57,000 strike (which added 4.3 lakh contracts), followed by the 57,200 strike (1.99 lakh contracts) and the 57,100 strike (1.6 lakh contracts). The maximum Put unwinding was seen at the 56,000 strike, which shed 1.45 lakh contracts, followed by the 55,500 and 55,400 strikes, which shed 86,170 and 15,435 contracts, respectively.

7) Funds Flow (Rs crore)

8) Put-Call Ratio

The Nifty Put-Call ratio (PCR), which indicates the mood of the market, jumped to 1.14 on July 23, compared to 0.84 in the previous session.

The increasing PCR, or being higher than 0.7 or surpassing 1, means traders are selling more Put options than Call options, which generally indicates the firming up of a bullish sentiment in the market. If the ratio falls below 0.7 or moves towards 0.5, then it indicates selling in Calls is higher than selling in Puts, reflecting a bearish mood in the market.

9) India VIX

The India VIX, which measures expected market volatility, dropped further to 10.52—its lowest closing level since April 24, 2024—down 2.21 percent. This gives more confidence to the traders' community but also signals the possibility of a sharp breakout or breakdown.

10) Long Build-up (80 Stocks)

A long build-up was seen in 80 stocks. An increase in open interest (OI) and price indicates a build-up of long positions.

11) Long Unwinding (26 Stocks)

26 stocks saw a decline in open interest (OI) along with a fall in price, indicating long unwinding.

12) Short Build-up (47 Stocks)

47 stocks saw an increase in OI along with a fall in price, indicating a build-up of short positions.

13) Short-Covering (73 Stocks)

73 stocks saw short-covering, meaning a decrease in OI, along with a price increase.

14) High Delivery Trades

Here are the stocks that saw a high share of delivery trades. A high share of delivery reflects investing (as opposed to trading) interest in a stock.

15) Stocks Under F&O Ban

Securities banned under the F&O segment include companies where derivative contracts cross 95 percent of the market-wide position limit.

Stocks added to F&O ban: Nil

Stocks retained in F&O ban: Bandhan Bank, Indian Energy Exchange, RBL Bank

Stocks removed from F&O ban: Nil