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  5. Trade setup for Jan 5: Will NIFTY50 close at new record high levels on Monday?

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Trade setup for Jan 5: Will NIFTY50 close at new record high levels on Monday?

Upstox
By Upstox News Desk

2 min read | Updated on January 05, 2026, 07:40 IST

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SUMMARY

GIFT NIFTY futures indicate a gap-up opening for NIFTY50 on Monday morning owing to positive global and domestic cues. The options data indicate a strong support for the NIFTY50 at 26,000.

The broader market was trading in green in the early trade, with both the Nifty Midcap 100 and the Nifty Smallcap 100 rising 0.60% and 0.52%, respectively. Image: Shutterstock

GIFT NIFTY futures traded 70 points higher indicating a gap up opening for Indian markets on Monday. Image: Shutterstock.

NIFTY50

Max call OI:26,500

Max put OI:26,000

(Ten strikes to ATM, 06 Jan expiry)

GIFT NIFTY futures indicate a positive start to the Indian markets on Monday morning, after global markets continued to remain bullish in the New Year. Additionally, the monthly and quarterly business updates for key banking, Automotive, and consumer companies indicate signs of a strong economic recovery. Investors and traders are expected to react to the key monthly business updates.

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Nifty50_2026-01-05_07-24-32.png

On the technical charts, the NIFTY50 is showing a strong breakout above the record high levels of 26,328. The downward resistance for the index remains at the 20 SMA level of 26,009. While the upside remains untapped, with a breakout above record high levels. However, owing to some profit booking, the index could stay in a narrow range of trade on Monday.

nifty05jan.png

On the options data front, the 26,000 puts indicate a strong support for the NIFTY50 for the current expiry with the highest open interest data. Similarly, the 26,500 calls hold the highest open interest, indicating a near-term resistance for NIFTY50.

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Long buildup: - Coal India, NTPC

Short buildup: - ITC, Kotak Bank

Top traded futures contracts: ITC

Top traded options contracts: SBIN 980 PE

F&O securities under ban: SAIL

F&O securities out of the ban:

To access a specially curated smartlist of the most traded and active stocks, as well as the OI gainers and losers, simply log in: https://pro.upstox.com/ ➡️F&O➡️Options smartlist/Futures smartlist In Futures and Options or F&O, long build-up means an increase in Open Interest (OI) along with a price increase, and short build-up means an increase in Open Interest(OI) along with a price decrease—source: Upstox and NSE.
Disclaimer: Derivatives trading must be done only by traders who fully understand the risks associated with them and strictly apply risk mechanisms like stop losses. The information is only for consumption by the client, and such material should not be redistributed. We do not recommend any particular stock, securities or strategies for trading. The securities quoted are exemplary and are not recommended. The stock names mentioned in this article are purely for showing how to do analysis
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About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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