The Nifty 50 closed at an 8-month high after a gap-up opening and a breakout above a falling resistance trendline, extending its northward journey for the fourth consecutive session to end 0.4 percent higher on June 9. The India VIX sustaining below the 15 mark also supported the bulls. The opening upside gap remains unfilled despite rangebound action, although a small bearish candle was formed. According to experts, the underlying trend remains positive. The index is expected to face immediate resistance at 25,200, followed by 25,300, which is the 78.6% Fibonacci retracement level of the 26,277–21,744 move, as long as it holds above the 25,000 support level.

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

1) Key Levels For The Nifty 50 (25,103)

Resistance based on pivot points: 25,145, 25,165, and 25,196

Support based on pivot points: 25,082, 25,062, and 25,031

Special Formation: The Nifty 50 formed a small bearish candle on the daily charts, but the upside gap remains unfilled. The index traded near the upper Bollinger Band and sustained above all key moving averages (10, 20, 50, and 200-day EMAs). The RSI stood at 61.81, and the Stochastic RSI maintained a positive crossover. The MACD remained well above the zero line and inclined upward with an improving histogram.

2) Key Levels For The Bank Nifty (56,840)

Resistance based on pivot points: 56,992, 57,053, and 57,151

Support based on pivot points: 56,796, 56,735, and 56,637

Resistance based on Fibonacci retracement: 57,715, 60,331

Support based on Fibonacci retracement: 56,208, 55,687

Special Formation: The Bank Nifty also formed a bearish candle; however, the upside gap remained unfilled. The index continued to sustain above the upper Bollinger Band. The trend remains positive, with the MACD showing a positive crossover accompanied by a healthy histogram. The RSI, at 69.31, also maintained a positive crossover, and all key moving averages trended upward.

3) Nifty Call Options Data

According to the weekly options data, the 26,000 strike holds the maximum Call open interest (with 1.3 crore contracts). This level can act as a key resistance for the Nifty in the short term. It was followed by the 25,500 strike (90.49 lakh contracts), and the 25,800 strike (64.37 lakh contracts).

Maximum Call writing was observed at the 25,100 strike, which saw an addition of 30.22 lakh contracts, followed by the 25,400 and 25,200 strikes, which added 25.99 lakh and 24.71 lakh contracts, respectively. The maximum Call unwinding was seen at the 25,000 strike, which shed 7.46 lakh contracts, followed by the 24,700 and 24,800 strikes which shed 6.17 lakh and 4.64 lakh contracts, respectively.

4) Nifty Put Options Data

On the Put side, the maximum Put open interest was seen at the 25,000 strike (with 74.62 lakh contracts), which can act as a key support level for the Nifty. It was followed by the 24,500 strike (70.31 lakh contracts) and the 24,800 strike (69.33 lakh contracts).

The maximum Put writing was placed at the 25,100 strike, which saw an addition of 32.46 lakh contracts, followed by the 24,400 and 24,500 strikes, which added 28.88 lakh and 17.22 lakh contracts, respectively. The maximum Put unwinding was seen at the 24,600 strike, which shed 1.84 lakh contracts, followed by the 26,000 strike which shed 750 contracts.

5) Bank Nifty Call Options Data

According to the monthly options data, the 56,000 strike holds the maximum Call open interest, with 18.75 lakh contracts. This can act as a key level for the index in the short term. It was followed by the 57,000 strike (12.01 lakh contracts) and the 58,000 strike (9.92 lakh contracts).

Maximum Call writing was visible at the 56,900 strike (with the addition of 1.49 lakh contracts), followed by the 57,000 strike (1.3 lakh contracts), and the 56,800 strike (58,080 contracts). The maximum Call unwinding was seen at the 56,500 strike, which shed 86,190 contracts, followed by the 56,600 and 55,500 strikes, which shed 70,830 and 27,510 contracts, respectively.

6) Bank Nifty Put Options Data

On the Put side, the maximum Put open interest was seen at the 56,000 strike (with 20.85 lakh contracts), which can act as a key support level for the index. This was followed by the 55,000 strike (14.1 lakh contracts) and the 55,500 strike (8.27 lakh contracts).

The maximum Put writing was observed at the 57,000 strike (which added 3.82 lakh contracts), followed by the 56,000 strike (1.12 lakh contracts) and the 56,900 strike (1.06 lakh contracts). The maximum Put unwinding was seen at the 56,600 strike, which shed 34,350 contracts, followed by the 55,600 and 55,700 strikes, which shed 25,110 and 7,290 contracts, respectively.

7) Funds Flow (Rs crore)

8) Put-Call Ratio

The Nifty Put-Call ratio (PCR), which indicates the mood of the market, fell to 1.01 on June 9, from 1.05 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, remained below the 15 mark, providing comfort to the bulls. It rose slightly by 0.43 percent to 14.69 levels after a sharp decline in the previous session.

10) Long Build-up (124 Stocks)

A long build-up was seen in 124 stocks. An increase in open interest (OI) and price indicates a build-up of long positions.

11) Long Unwinding (11 Stocks)

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

12) Short Build-up (29 Stocks)

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

13) Short-Covering (61 Stocks)

61 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: Titagarh Rail Systems

Stocks retained in F&O ban: Aditya Birla Fashion and Retail, Chambal Fertilisers and Chemicals, Hindustan Copper

Stocks removed from F&O ban: Manappuram Finance