Trade setup for Thursday: Top 15 things to know before the opening bell

Resistance based on pivot points: 24,953.15, 25049, and 25,222.1.

Special Formation: The index formed a bullish candle with a large body and smaller wicks on both sides.

Key Levels for the Bank Nifty:

Support based on pivot points: 51186.98,50874.67 and 50176.97

Resistance based on pivot points: 51884.68, 52270.07, and 52967.77.

Special Formation: The index formed a significant bullish candle and closed above the 51,200 mark.

Nifty Call Options Data: According to weekly options data, the 25,500 strike (with 1.38 crore combined OI) had the maximum Call open interest, acting as a key resistance level for the Nifty in the short term. This was followed by the 25,200 strike (1.01 crore combined OI).  Strong call writing was observed at the 23,100 Strike in Nifty.

Nifty Put Options Data: On the Put side, the maximum open interest was at the 24,500 strike (with 1.64 crore combined OI), acting as a key support level for the Nifty. This was followed by the 24,600 strike with 87 lakh combined OI. FII Funds Flow (Rs crore):

Put-Call Ratio: The Nifty Put-Call ratio (PCR), an indicator of market sentiment, is at 1.18. An increasing PCR above 0.7 or surpassing 1 generally indicates bullish sentiment, while a ratio below 0.7 or moving towards 0.5 indicates a bearish mood.

Nifty Max Pain Point: The Nifty max pain point is at a 24,900 strike price. The max pain theory shows the level at which option sellers will likely have the least expiry loss.

India VIX: Volatility remains in the 12-14 range. Compared to the previous session India VIX, the fear index closed at 13.85 up 2.87 percent. Long Build-up (74 Stocks): A long build-up was seen in 74 stocks, indicated by an increase in open interest (OI) and price.

Long Unwinding (21 Stocks): 21 stocks saw a decline in open interest (OI) along with a fall in price, indicating long unwinding.

Short Build-up (40 Stocks): 40 stocks saw an increase in OI along with a fall in price, indicating a build-up of short positions. Short-Covering (50 Stocks): 50 stocks saw short-covering, indicated by a decrease in OI along with a price increase.

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 in F&O ban: IndiaCement and Granules

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