Since the market is struggling to maintain its upward momentum, a more cautious approach is needed. Options data shows Nifty resistance has shifted to 24,500, where steady call shorting is capping gains. Immediate support holds at 24,200, likely keeping the weekly range between 24,200 and 24,900. With the Put-Call Ratio (PCR) reaching 1 in both Nifty and Bank Nifty, bullish enthusiasm is returning as oversold levels are hit. Bank Nifty, having cleared the 52,000 mark, remains slow but could eventually lead the market higher.
About The Author
