Trade setup for Jan 30: Can NIFTY50 break the resistance and close above 25,500 on Friday? Check details

NIFTY50

Max call OI:25,500

Max put OI:25,000

(Ten strikes to ATM, 03 Feb expiry)

The benchmark indices continued to trade with extreme volatility throughout the day ahead of the economic survey announcement and crucial budget session on February 1, Sunday. The NIFTY closed 76 points in green on Thursday, jumping 254 points from the intraday low level after the economic survey projected the Indian economy to grow by 6.8%-7.2% in FY27. The robust economic outlook boosted the investor sentiment across the board on Thursday.

The Friday morning cues remain mixed with US markets closed in red except for the Dow Jones. The Asian markets traded in green as Japan’s economic data boosted the sentiment. The GIFT NIFTY futures traded in red on Friday morning, indicating a muted start of the day.

On the technical front, the NIFTY50 jumped back from the 200 EMA level again on Thursday, reiterating the significance of the support level at 25,167. The upside remains capped at 25,500, which holds a crucial resistance ahead of the key budget session. Experts believe, a close above 25,500 could pave the way for a rally towards 26,000.

On the options data front, the 25,500 calls hold the highest open interest, indicating a strong resistance for the coming weekly expiry on 03 February 2026. While the 25,000 puts witnessed heavy open interest addition and held the highest open interest, indicating strong support for the index.

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Long buildup: - Tata Steel

Short buildup: Indigo, Maruti, SBI Life

Top traded futures contracts: Hindustan Zinc, Canara Bank

Top traded options contracts: Infy 1740 CE

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