Trade setup for March 6: Top 15 things to know before the opening bell as focus remains on Iran war- Grow Mudra

Trade setup for March 6: Top 15 things to know before the opening bell as focus remains on Iran war

06 Mar , 2026 By : Debdeep Gupta

The Nifty 50 saw a relief rally on March 5, rising 1.17 percent after losing nearly 4 percent in the previous three straight sessions, but participants are keeping an eye on further geopolitical developments between the United States, Israel, and Iran. The bears maintained the upper hand, given that the index is trading well below the 200-day EMA, the India VIX remains elevated (though it cooled), and bearish momentum persists. However, the index negated the lower high–low formation of the previous four days. If the index fails to show follow-through buying in the upcoming session, consolidation with range-bound trading may be seen, with support at 24,500. A fall below this level could open the door for 24,300 again. However, in case of an uptrend, the 24,900–25,000 zone can act as a hurdle, according to experts.

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

1) Key Levels For The Nifty 50 (24,766)

Resistance based on pivot points: 24,841, 24,917, and 25,041

Support based on pivot points: 24,592, 24,516, and 24,392

Special Formation: The Nifty 50 formed a bullish candle with upper and lower shadows on the daily charts, indicating buying interest despite intraday volatility. However, the trend is still in favour of the bears, as the index is trading well below the 200-day EMA. The short- and medium-term moving averages trended down. The MACD (Moving Average Convergence Divergence) sustained a bearish crossover, with another long red bar in the histogram. The Relative Strength Index (RSI) rose to 37.55 after moving close to the oversold zone in the previous session, but it is still below the reference line. All this indicates continued bearish momentum despite the relief bounce.

2) Key Levels For The Bank Nifty (59,056)

Resistance based on pivot points: 59,239, 59,420, and 59,714

Support based on pivot points: 58,652, 58,471, and 58,178

Resistance based on Fibonacci retracement: 59,206, 59,700

Support based on Fibonacci retracement: 58,631, 57,783

Special Formation: The Nifty Bank formed a small-bodied bullish candle with a small upper shadow and a long lower shadow, resembling a Doji-like pattern (though not a classical one) on the daily timeframe, indicating indecision among bulls and bears. The index closed slightly above the 100-day EMA, but it was not a convincing close above it. The index also remained well below the short- and medium-term moving averages, all of which trended down. The RSI climbed to 39.36, but remained below the signal line. Meanwhile, the MACD dropped below the zero line, with a bearish crossover and further expansion in the red histogram bar. All this indicates weak momentum and ongoing uncertainty in the trend.

3) Nifty Call Options Data

According to the weekly options data, the maximum Call open interest was seen at the 25,500 strike (with 83.48 lakh contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 25,000 strike (66.89 lakh contracts) and 25,300 strike (41.19 lakh contracts).

Maximum Call writing was observed at the 25,500 strike, which saw an addition of 28.26 lakh contracts, followed by the 24,800 and 25,300 strikes, which added 18.75 lakh and 15.85 lakh contracts, respectively. The maximum Call unwinding was seen at the 24,500 strike, which shed 11.03 lakh contracts, followed by the 24,400 and 24,450 strikes, which shed 8.37 lakh and 4.87 lakh contracts, respectively.

4) Nifty Put Options Data

On the Put side, the 24,500 strike holds the maximum Put open interest (with 53.63 lakh contracts), which can act as a key support level for the Nifty in the short term. It was followed by the 24,600 strike (42.95 lakh contracts) and the 24,300 strike (36.35 lakh contracts).

The maximum Put writing was placed at the 24,600 strike, which saw an addition of 26.45 lakh contracts, followed by the 24,700 and 24,500 strikes, which added 15.25 lakh and 15.02 lakh contracts, respectively. The maximum Put unwinding was seen at the 24,400 strike, which shed 3.01 lakh contracts, followed by the 24,450 and 25,100 strikes, which shed 1.14 lakh and 49,335 contracts, respectively.

5) Bank Nifty Call Options Data

According to the monthly options data, the maximum Call open interest was seen at the 60,000 strike, with 7.37 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 (7.33 lakh contracts) and the 60,500 strike (3.93 lakh contracts).

Maximum Call writing was observed at the 59,000 strike (with the addition of 1.56 lakh contracts), followed by the 60,000 strike (1.54 lakh contracts) and 59,300 strike (43,740 contracts). The maximum Call unwinding was seen at the 60,500 strike, which shed 35,580 contracts, followed by the 59,400 and 60,600 strikes, which shed 19,530 and 12,300 contracts, respectively.

6) Bank Nifty Put Options Data

On the Put side, the 59,000 strike holds the maximum Put open interest (with 9.31 lakh contracts), which can act as a key support level for the index. This was followed by the 60,000 strike (6.18 lakh contracts) and the 58,000 strike (5.92 lakh contracts).

The maximum Put writing was placed at the 59,000 strike (which added 1.34 lakh contracts), followed by the 59,300 (50,610 contracts) and 59,700 (30,630 contracts). The maximum Put unwinding was seen at the 60,000 strike, which shed 37,080 contracts, followed by the 58,500 and 58,800 strikes, which shed 10,430 and 10,350 contracts, respectively.

7) Funds Flow (Rs crore)

8) Put-Call Ratio

The Nifty Put-Call ratio (PCR), which indicates the mood of the market, rose to 1.01 on March 5, compared to a 0.95 in 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, also known as the fear index, dropped sharply by 15.53 percent to 17.86, providing some comfort for bulls but still remaining in the elevated zone. As long as it stays well above the 12–13 zone, bulls need to remain cautious.

10) Long Build-up (83 Stocks)

A long build-up was seen in 83 stocks. An increase in open interest (OI) and price indicates a build-up of long positions.

11) Long Unwinding (10 Stocks)

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

12) Short Build-up (16 Stocks)

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

13) Short-Covering (101 Stocks)

101 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.