The Nifty 50 closed a rangebound session with a loss of 93 points on June 17, tracking nervousness in global peers due to the Iran-Israel conflict. The formation of higher highs and higher lows continued for another session, with the index gyrating around the short-term moving averages (10-day and 20-day EMAs). According to experts, the index is expected to consolidate further, with support at 24,700 (Monday's low) and resistance at 25,000 in the short term. A breakdown below the support could drag the index down to 24,500 (a crucial support level), whereas sustaining above 25,000 may open the doors for a move toward 25,200.

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

1) Key Levels For The Nifty 50 (24,853)

Resistance based on pivot points: 24,947, 24,987, and 25,051

Support based on pivot points: 24,819, 24,779, and 24,715

Special Formation: The Nifty 50 formed a bearish candlestick resembling a Bearish Belt Hold pattern (though not a classical one) on the daily charts, signaling some weakness. The index managed to defend the 20-day EMA and the midline of the Bollinger Bands on a closing basis, albeit with low volume. Meanwhile, the MACD remained in a negative crossover with a weakening histogram, and the RSI, at 53.26, tilted downward with a negative crossover.

2) Key Levels For The Bank Nifty (55,714)

Resistance based on pivot points: 55,970, 56,070, and 56,232

Support based on pivot points: 55,647, 55,547, and 55,385

Resistance based on Fibonacci retracement: 56,099, 56,810

Support based on Fibonacci retracement: 55,266, 54,845

Special Formation: The Bank Nifty also formed a bearish candlestick on low volume, falling 0.4 percent. However, it continued its formation of higher tops and bottoms for another session. The index hovered around the midline of the Bollinger Bands. The MACD showed further weakness in the histogram, while the RSI, at 52.55, remained in a negative crossover.

3) Nifty Call Options Data

According to the weekly options data, the 25,500 strike holds the maximum Call open interest (with 98.06 lakh contracts). This level can act as a key resistance for the Nifty in the short term. It was followed by the 25,000 strike (94.73 lakh contracts), and the 25,200 strike (78.71 lakh contracts).

Maximum Call writing was observed at the 25,000 strike, which saw an addition of 40.57 lakh contracts, followed by the 24,900 and 24,850 strikes, which added 30.17 lakh and 24.81 lakh contracts, respectively. The maximum Call unwinding was seen at the 24,600 strike, which shed 1.66 lakh contracts, followed by the 24,700 and 24,500 strikes, which shed 89,400 and 83,475 contracts, respectively.

4) Nifty Put Options Data

On the Put side, the maximum Put open interest was observed at the 24,000 strike (with 99.26 lakh contracts), which can act as a key support level for the Nifty. It was followed by the 24,500 strike (66.12 lakh contracts) and the 24,800 strike (62.19 lakh contracts).

The maximum Put writing was placed at the 24,000 strike, which saw an addition of 11.16 lakh contracts, followed by the 24,850 and 24,300 strikes, which added 9.75 lakh and 6.22 lakh contracts, respectively. The maximum Put unwinding was seen at the 24,900 strike, which shed 17.08 lakh contracts, followed by the 24,950 and 24,700 strikes which shed 12.35 lakh and 13.72 lakh contracts, respectively.

5) Bank Nifty Call Options Data

According to the monthly options data, the 56,000 strike holds the maximum Call open interest, with 24.59 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 57,000 strike (16.28 lakh contracts) and the 56,500 strike (10.35 lakh contracts).

Maximum Call writing was visible at the 56,000 strike (with the addition of 3.51 lakh contracts), followed by the 55,800 strike (1.91 lakh contracts), and the 57,500 strike (1.68 lakh contracts). The maximum Call unwinding was seen at the 56,200 strike, which shed 18,690 contracts, followed by the 57,100 and 56,400 strikes, which shed 17,670 and 10,860 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 19.96 lakh contracts), which can act as a key level for the index. This was followed by the 55,000 strike (12.82 lakh contracts) and the 54,000 strike (10.72 lakh contracts).

The maximum Put writing was observed at the 54,000 strike (which added 2.12 lakh contracts), followed by the 54,500 strike (56,280 contracts) and the 54,200 strike (39,780 contracts). The maximum Put unwinding was seen at the 55,500 strike, which shed 1.31 lakh contracts, followed by the 55,900 and 55,000 strikes, which shed 1.02 lakh and 65,220 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 0.95 on June 17, compared to 1.14 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 fear index, India VIX, dropped below the 15 zone, closing at 14.4 (down 2.93 percent), extending its downtrend for another session. This signals some comfort for the bulls.

10) Long Build-up (20 Stocks)

A long build-up was seen in 20 stocks. An increase in open interest (OI) and price indicates a build-up of long positions.

11) Long Unwinding (64 Stocks)

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

12) Short Build-up (111 Stocks)

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

13) Short-Covering (28 Stocks)

28 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: Aditya Birla Fashion and Retail, Birlasoft, Central Depository Services, Chambal Fertilisers and Chemicals, HUDCO, Indian Renewable Energy Development Agency (IREDA), Manappuram Finance, RBL Bank, Titagarh Rail Systems

Stocks removed from F&O ban: Nil