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  1. Trade setup for July 28: Will NIFTY50 bounce back from current levels on Monday?

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Trade setup for July 28: Will NIFTY50 bounce back from current levels on Monday?

Upstox

2 min read | Updated on July 28, 2025, 10:21 IST

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SUMMARY

GIFT NIFTY indicates a flat opening for Indian markets on Monday, despite strong global cues as US and EU reach a trade deal. The index option chain data indicates 25,000 as the crucial resistance and 24,500 as the nearest support for the NIFTY50.

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The GIFT NIFTY futures indicate that the NIFTY50 index will open flat on Monday. | Image: Shutterstock

NIFTY50

Max call OI:

Max put OI:

(Ten strikes to ATM, 31 July expiry)

NIFTY50 closed the previous week with losses of up to 0.6%. The index closed below a crucial swing support level of 25,000 on a weekly basis, indicating a rise in bearish sentiment in the Indian markets. Overall, Q1 earnings have shown a disappointing performance, and weak commentary has added to the pessimism in investors' sentiments.

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Nifty50_2025-07-28_07-35-23.png On the technical charts, the NIFTY50 closed below the 25,000 swing support level and 50 EMA level of 24,953, which previously was not broken multiple times. Experts believe that upside remains capped at 25,000, and 25,500 could act as the next nearest support for the index.
On the options data front, the 25,000 calls hold the highest open interest on the upside, indicating a strong resistance at these levels. On the other hand, 24,500 holds the highest open interest on the downside, indicating a nearest support on the downside. nifty28july.PNG

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Long buildup: Cipla

Short buildup: Bajaj Finance, Shriram Finance, Bajaj Auto

Top traded futures contracts: Bajaj Finance, Axis Bank, HDFC Bank

Top traded options contracts: Infy 1540 CE, SBIN 800 PE, Reliance 1420 CE

F&O securities under ban: RBL Bank, IEX

F&O securities out of the ban: Bandhan Bank

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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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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