Trade for Nov 3: Will NIFTY50 hold the support of 25,700 levels on Monday?

NIFTY50

Max call OI:26,000

Max put OI:25,700

(Ten strikes to ATM, 04 Nov expiry)

NIFTY50 index clawed back the majority of the gains achieved in the last week as selling pressure mounted on the index heavyweights in the latter half of the week. The index failed to close above 26,000 levels for the second consecutive week. GIFT NIFTY futures indicate a negative start on Monday amid mixed global cues.

On the technical charts, the index now stands at the previous breakout level of 25,700, indicating a crucial support zone for the index, and 26,060 becomes the near-term resistance zone for the index.

On the options data front, the 26,000 calls hold the highest open interest, indicating the strong resistance level for the 04 Nov expiry. On the other hand, the 25,700 puts hold the highest open interest, indicating a strong support for the index.

Stock Scanner

Long buildup: - Shriram Finance

Short buildup: - Eternal, NTPC, Cipla

Top traded futures contracts: BEL, Maruti, BSE

Top traded options contracts: Infy 1600 CE

F&O securities under ban: Samman Cap

F&O securities out of the ban:

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