NIFTY & BANK NIFTY Analysis: 24th March 2025

General
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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:

  • At exit poll day resistance, close to breaking.
  • Weekly candle: Big bullish engulfing.
  • Monthly candle: Imperfect Harami.
  • Near 200 DMA at 23,500 zone.

NIFTY_2025-03-24_07-10-19
NIFTY_2025-03-24_07-10-191835×865 138 KB

BANK NIFTY:

  • Above the middle of the channel.
  • Crossed 200 DMA.
  • Bullish engulfing on daily charts.

BANKNIFTY_2025-03-24_07-28-50
BANKNIFTY_2025-03-24_07-28-501835×865 133 KB

Options Chain Data: Key Levels

Screenshot from 2025-03-24 07-32-16
Screenshot from 2025-03-24 07-32-16949×543 26.8 KB

Support: 23,200

Resistance: 23,500+

PCR (Put-Call Ratio): 1.1 overall and 0.8 around ATM - Neutral to bullish

Open Interest: Sensibull

Participant Options Data

Participant Calls Puts Comment
FII Long 1.7 L Long 1.4 L Positive Bias
Pro Long 1.3 L Short 1.52 L Positive Bias
Client Short 3 L Almost None Heavily Short

Summary: FII & Pro are long, Client is heavily short in the markets.

FII DII Data Summary: Sensibull

Participant Futures Data

  • FII: Unwinding shorts, bought ₹2,000+ Cr in futures on Friday.
  • Client: Rapid long unwinding.

FII DII Futures and Options Data: Sensibull Analyse

Participant Stock Data

FII Index Futures: Bought ₹2,419 Cr (Bullish)

FII Options:

  • Call OI change: -18,261 (Bearish)

  • Put OI change: -56,921 (Bullish)

FII Cash: Bought ₹7,470 Cr (Bullish)

FII DII Data: Sensibull

:memo: Verdict

  • There might be more upside left.
  • Avoid adding any fresh shorts here.

:dart: Trade Plan and Approach

  • Will wait till a reversal signal appears.
  • Not participating in the upside move due to too many resistances above.

Watch the full analysis video here:

What’s your view? Curious to hear how you’re looking at this, feel free to share your thoughts or levels you’re tracking. :slight_smile:

1 Like
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The market looks strong with FIIs buying, I’m not jumping in blindly here as there are too many resistances ahead, and it looks like bulls are on steroids. Who knows when bears gonna strike. Gonna wait and watch how Price reacts. Is anyone else thinking of hedging or just riding the wave?

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This seems to be insightful.

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I watched a few videos and found the presenter to be highly biased. I think he sold his equity holdings when nifty was at 18k, and is still sour about it. No matter what the charts say, the verdict is always bearish marred by confirmation bias.
Surprised to see zerodha endorsing such content!

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Yeah, this is just anchoring bias at play. When someone sells their portfolio at a certain level (like Nifty 18k), their brain gets stuck on that number. No matter what the market does, they keep using that as a reference.

If the market goes up, they feel like they sold too early and wait for a dip. If it goes down, they feel like a genius and double down on being bearish. Either way, their view is kinda stuck in the past instead of adapting to what’s actually happening. Happens to a lot of traders.

6

Trap Trap, it’s a Trap