The index rose by 140 points (0.57%), driven by strong long build-up as open interest increased by 2.59% and futures volume surged over 18% from yesterday.
Option data indicates significant short covering between the 24,600 and 25,750 call strikes, especially notable at the 24,800 call strike, while fresh put build-up emerged at the 24,800 put strike.
All sectors closed in the green, with Realty leading and IT showing the least gains.
Despite the robust upmove, the index continues to trade well below the key 10-day, 20-day, and 50-day EMA zones.
Nifty closed 34 points higher, trading in a narrow range with a long lower wick, indicating an intraday recovery.
With monthly expiry and closing aligned tomorrow, Nifty has maintained a higher high–higher low structure for three consecutive months.
F&O data shows a bullish bias, with short covering at the 24,800 call option (CE) strike and aggressive put writing at the 24,850 and 24,900 put option (PE) strikes.
Infra and IT sectors led the gains, while Realty and PSU Banks lagged.
L&T surged 4%, topping the Nifty gainers; Sun Pharma, NTPC, and Tata Consumer also advanced. Tata Motors and Hero Moto weighed on the Auto index.
The Nifty 50 rebounded sharply, closing at the session’s high with a 157-point gain as it recovered most of Friday’s losses; this move was driven by a 1.5% drop in open interest, indicating strong short covering.
Significant put writing was observed at the 24,600 strike price, pointing to strong support at that level.
Sector-wise, METAL, AUTO, IT, and REALTY stocks led the gains, while FMCG ended marginally in the red; the RSI improved from 36 to 41, signaling strengthening momentum.
Among individual stocks, HEROMOTOR, TATAMOTORS, and ADANIPORTS were the top gainers, whereas POWERGRID, ONGC, and HDFCBANK closed as the top losers in the Nifty 50.
Nifty 50 closed 73 points lower but managed a late recovery of 60 points from the day’s lows, successfully holding the key 25,600 mark despite multiple breakdown attempts.
Heavy call writing at the 24,700 strike signals that the index must stay above this level to enable a meaningful rebound.
Despite the weak close, there was a sharp improvement in market breadth: the percentage of stocks trading above their 5-day EMA surged to over 60%, up from just 19% two days ago.
Titan, SBI Life, and IndusInd Bank gained around 1.5% and led the gainers, while Adani Ports and Reliance lost over 1.5%, emerging as top losers.
Nifty 50 fell 75 points (-0.31%), breaking key support at 25,600 and now trades 4.5% below its recent swing high, indicating continued weakness.
August futures premium dropped to 55 points while open interest rose over 1%, indicating fresh short build-up; significant call writing at 25,600 and 25,500 adds to the bearish sentiment.
The index is trading well below its key exponential moving averages (EMAs) and reports an RSI of 38, reflecting a clear lack of strength.
By sector, pharma emerged as the top loser with a decline of over 2%, while PSU banks were the top gainers, rising 0.59%.
Among Nifty 50 stocks, Asian Paints and HDFC Life led the gainers, whereas Wipro and Sun Pharma were the top losers.
Powerful Intraday Reversal: The NIFTY 50 hit an intraday low of 25,344.1 but staged a sharp rebound of over 200 points, forming a prominent lower wick and delivering eight consecutive green candles on the 15-minute chart—classic indications of a potential bear trap and a short-term momentum shift favoring the bulls.
Strong Support Zone Identified: Significant put writing between the 24,400 and 24,600 strike prices highlights a robust support range. Meanwhile, the buildup of long positions accompanied by only minor changes in open interest suggests cautious optimism and potential for further upside.
Sector Rotation Evident: While infrastructure, energy, and realty sectors closed in the red, broad-based strength was observed elsewhere—particularly in IT and pharma, which emerged as the day’s top sectoral gainers.
Stock-Specific Moves Stand Out: Among index constituents, Hero MotoCorp outperformed with gains exceeding 4%, whereas Adani Ports and Adani Enterprises lagged, finishing as the session’s top NIFTY losers.
NIFTY 50 erased all the gains from yesterday’s recovery and closed sharply lower by 233 points, marking its worst close in 64 trading sessions. Open interest surged over 4%, indicating significant bearish bets, with heavy call writing visible in the 24,400 to 24,800 strike range.
The Relative Strength Index (RSI) dipped below 35, signaling strong bearish pressure and negative momentum in the market.
Fewer than 30% of NIFTY 50 stocks are trading above their 20-day and 50-day exponential moving averages (EMAs), highlighting widespread weakness across the index.
All sectoral indices ended in the red, with Realty and Metal sectors witnessing the steepest losses amid broad-based selling pressure.
On the stock front, NTPC, Titan, and Dr. Reddy’s were the top gainers, while IndusInd Bank, Bharti Airtel, and Adani Enterprises emerged as the biggest losers, each falling over 3%.
Broad Market Rally: Nifty 50 surged 222 pts, with 90% of its constituents ending in the green; nearly 40% of stocks now trade above their 20-day and 50-day EMA levels.
Sectoral Strength: All sectors ended higher, led by PSU Banks and Realty.
Derivatives Action: Open interest fell nearly 1%, indicating short covering; significant put writing at 24,400–24,500 strikes signals strong support in this zone.
Stock Movers: Adani Enterprises and Tata Motors topped gainers, while Hero MotoCorp slipped marginally, down 0.76%.
Nifty 50 slipped 0.40%, losing over 200 points from the day’s highs, with short build-up amid marginal change in open interest; heavy call writing observed at 24,500–24,700 strikes.
The daily chart formed a large upper wick, signaling weak conviction in the up-move.
Market breadth favored bears across the Nifty 50 and Nifty 500.
Sector-wise, Auto and Pharma led gains, while Banking, Finance, and Realty dragged the index lower.
Top gainers included Tech Mahindra, Maruti, Hero MotoCorp, and M&M (three from Auto), while Bajaj Finance was the biggest loser.
