Trade setup for Sept 18: Will NIFTY50 cross 25,500 on Thursday? All you need to know

The GIFT NIFTY futures traded 96 points higher on Thursday morning, indicating a strong and positive starts to the Indian markets. The US markets closed mixed with Dow Jones gaining over 250 points, while NASDAQ and S&P500 closing flat-to-negative on Wednesday, after Federal Reserve cut the interest rates by 25 bps.

NIFTY50

Max call OI:25,500

Max put OI:25,300

The NIFTY50 index continued to march ahead by closing at two-month high levels on Wednesday. The buoyancy over the Fed's interest rate cuts boosted the overall sentiment in the markets. Experts now look forward towards a positive breakthrough in the tariff situation between India and the US.

On the technical charts, the index has confirmed the positive crossover of 21 EMA crossing 50 EMA from below, indicating bullish momentum in the markets. Similarly, the index has also formed a W candlestick pattern with a double bottom formation, which also indicates renewed bullish momentum in the markets and bodes well for further rally.

On the options data front, 25,500 calls hold the highest open interest, indicating the near-term resistance for the index. On the other hand, the 25,300 and 25,200 put hold the highest open interest on the downside, indicating the near-term support for the index for the coming weekly expiry.

Stock Scanner Long buildup: - Tata Consumer, SBI

Short buildup: -

Top traded futures contracts: SBI, HDFC Bank, VEDL

Top traded options contracts: SBIN 880 CE, SBIN 840 PE

F&O securities under ban: RBL Bank, Angel One, HFCL, OFSS

F&O securities out of the ban: NIL

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