Trade setup for 15 September: NIFTY50 fails to hold on to record highs. PSU Bank shares soar.

Blog | F&O

Asian Markets Update 7 am

Indian equities may start the day positive to flat, as indicated by the GIFT Nifty. The futures contract on the NSE International Exchange (NSE IX) is trading 15 (+0.07%) points higher. Its Asian peers are trading in the green. The Nikkei 225 rose  1.0% while Hang Seng gained 0.6%. 

US Market Update

The US markets ended higher on Thursday as economic data eased worries about a recession without raising the fear of a Fed rate hike next week. Dow Jones advanced 0.9%, while NASDAQ rose 0.8%.

Index Action


20,103 ▲ 33 (+0.1%) 
Max Pain: 20,100
PCR: 1.1

After a strong opening, the NIFTY50 index witnessed profit booking. The benchmark index remained range-bound on the expiry day. Meanwhile, the European Central Bank (ECB) raised the key rate by 0.25% yesterday, taking it to an all-time high. Also, the US central bank will announce its rate decision next week on 20 September. Most market experts believe that the US central bank could keep the rate unchanged despite higher-than-expected inflation numbers in August in the US. 

According to the options data, as per the 21 September expiry, the max call open interest (OI) build-up is at 20,200. It means that this level could act as a resistance. On the other hand, the max put OI build-up is at the 20,000 level – which could act as a support. 



46,000 ▲ 91 (+0.2%) 
Max Pain: 46,000
PCR: 0.9 

The BANK NIFTY index also faced volatility yesterday. But, it also managed to close in the green. Meanwhile, strong buying traction in PSU Bank shares for the second consecutive day. 

Meanwhile, according to the options data, sizable call positions can be seen at the 46,500 level, which can act as a resistance. And, on the lower side, based on max put OI build-up, the index can get support at the 45,500 level.

India VIX

The volatility index declined 4.3% and settled at 11.31.

Stock Action

Long build-up: ONGC, Hindalco, Ultratech Cement, Tech Mahindra, Tata Steel

Short build-up: ICICI Bank, Sun Pharma, Kotak Bank, Tata Motors, Indusind Bank


In Futures and Options or F&O, long build-up means an increase in Open Interest (OI)

long with an increase in price, and short build-up means an increase in Open Interest

(OI) along with a decrease in price.

Source: Upstox and NSE.


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