NIFTY & BANK NIFTY Analysis: 24th April 2025

Welcome to Kya Lag Raha Hai Market, your daily look at NIFTY and BANK NIFTY predictions and market analysis with Abid Hassan from Sensibull. We analyse options trading by tracking candlestick patterns, price action, FII-DII data, support and resistance levels, open interest, option chain moves, trend formations, and risk-reward setups to help you navigate the markets better.

Disclaimer: This content is purely for educational purposes and does not constitute investment advice or stock tips. The aim is to help you understand derivative data, option trading strategies, and technical analysis better.


Chart Analysis

NIFTY:

  • Forming a hanging man candle, which could also turn into a dragonfly Doji depending on tomorrow’s close.
  • A close below today’s low may confirm the hanging man as a bearish signal.

BANK NIFTY:

  • Forming a bearish engulfing candle on the daily timeframe.
  • Not a strong breakdown yet, but caution warranted.


Options Chain Data: Key Levels

• Put side is slightly stronger, indicating support at lower levels.
• On an expiry day, open interest cues are often unreliable.
• Overall, the option chain suggests the index can go either way.

PCR (Put-Call Ratio): 1 overall and 0.8 around ATM. Indicates a neutral to mild bearish tone.

Open Interest: Sensibull


Participant Options Data

Participant Calls Puts Comment
FII Long 1.5L Long 1L Bullish leaning
Pro Short 50K Short 1.4L Bullish
Client Short 1L Short 30K Slight Bearish

Summary: FIIs and Pros lean bullish with more put exposure. Clients are still mildly bearish with heavier call shorts.

FII DII Data Summary: Sensibull


Participant Futures Data

  • FII bought ₹1,300 crore in index futures.
  • Their net futures position still remains short overall.

FII DII Futures and Options Data: Sensibull Analyse


Participant Stock Data

FII Index Futures: Bought ₹1,326 Cr in index futures. OI increased by 7.6k (Bullish).

FII Options:

  • Call OI change: -11,588 (Bearish)

  • Put OI change: -61,659 (Bullish)

FII Cash: Bought ₹3,333 Cr in cash. (Bullish)

FII DII Data: Sensibull


:memo: Verdict

  • There is a possible reversal signal in both NIFTY and BANK NIFTY.
  • Tomorrow’s close will be key to confirming the bearish setup.

:dart: Trade Plan and Approach

  • If tomorrow’s close is weaker than today, bear call spreads or bear put spreads can be considered.
  • No long trades unless reversal signals are invalidated by a strong move up.

Watch the full analysis video here:


What’s your view? Share your thoughts. :slight_smile:

1 Like

Yes of course closing is important , i don’t see any bearish set up , market is in a bit Consolidation mode , normally after consolidation markets move up , yesterday market reacted for the Terror attack news’s n J&k but after nifty moved ,up if you look at the yesterday’s derivative data , Pros covered their shorts , FII long on Nifty , its only the DIIs having short’s , its the PRO’s keeping the Nifty in a trading range and in MAY month OI data suggests the upside for Nifty , i may be wrong but market is supreme :slightly_smiling_face:

1 Like

Yesterday i commented based on previous Derivative data after going back to the charts at the endnof the day , by considering geopolitical changes happening and also considering the week ends Nifty is reacting on downside

Yes your views are correct :slightly_smiling_face:

2 Likes