Trade setup for June 13: Will NIFTY50 and SENSEX hold 21 EMA support on Friday? All you need to know

NIFTY50

Max call OI: 25,200

Max put OI: 24,500

(Ten strikes to ATM, 19th June expiry)

NIFTY50 gave up the majority of the gains from the 06 June rally and closed nearly 253 points lower on Thursday. The index also closed below the psychological support of 25,000, indicating a reversal in the bullish trend. On technical charts, the index is now headed for the support level of the 21 EMA at 24,785 on the daily charts. Experts believe closing below the 21 EMA levels could lead to further downfall in the NIFTY50.

On the options data front, the 19th June expiry data indicates support and resistance levels at 24,500 and 25,200, respectively. 25,200 calls hold the highest open interest, and 24,500 puts hold the highest open interest on the downside.

SENSEX

Max call OI:82,500

Max put OI:81,500

(Ten strikes to ATM, 17th June expiry)

SENSEX closed 823 points lower on Thursday after facing strong resistance at the 82,500-82,600 zone consistently. The benchmark index had rallied more than 15% from the April lows and consolidated in the range of 80,600 to 82,600 for one month. Experts believe a breakout or breakdown from this range could lead to the next directional move in the index.

On technical charts, the index found support at the 21 EMA level of 81,500 on Thursday after facing resistance at 82,600. Experts believe 81,500 remains crucial support for the index on Friday, and a closing below the respective levels could lead to further downfall in the index.

On the options data front, the 82,500 calls hold the highest open interest, indicating a resistance for the current weekly expiry. On the downside, 81,500 puts hold the highest open interest, indicating support for the 17th June expiry.

Stock scanner

Long buildup:

Short buildup: Tata Motors

Top traded futures contracts: Infy, Paytm, BSE

Top traded options contracts: SBI 830 CE, INFY 1660 CE

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