Trade Setup for March 19: Nifty, Bank Nifty, and Top 15 Things to Know

Trade Setup for March 19: Nifty, Bank Nifty, and Top 15 Things to Know

The Nifty 50 remained in positive territory for the third straight day, rising 0.83 percent on March 18 and gaining 3.5 percent from its recent low. The recovery has been supported by improving momentum after the index hit oversold territory, along with a falling VIX. However, the broader trend still reflects a pattern of lower tops and lower bottoms, with momentum indicators signalling caution.

Nifty Levels to Watch

If the Nifty breaks 23,600 (Wednesday’s low), a decline toward the 23,500–23,350 zone is possible in the coming sessions. However, a further rally toward 24,000 is likely only if the index closes above and sustains the 23,800 resistance level, according to experts.

Bank Nifty Levels to Watch

The Bank Nifty rose 0.82 percent and formed a bullish candle with minor upper and lower shadows on the daily charts, indicating a continuation of the pullback despite some volatility for the third straight session. The index remained above the 50 percent Fibonacci retracement level for another session; however, trading volumes have been declining.

Nifty Call Options Data

According to the weekly options data, the 24,500 strike holds the maximum Call open interest (with 43.88 lakh contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 24,000 strike (43.45 lakh contracts) and 23,800 strike (33.98 lakh contracts).

Nifty Put Options Data

On the Put side, the maximum Put open interest was seen at the 23,000 strike (with 54.98 lakh contracts), which can act as a key support level for the Nifty in the short term. It was followed by the 23,500 strike (47.87 lakh contracts) and the 23,700 strike (36.26 lakh contracts).

Bank Nifty Call Options Data

According to the monthly options data, the 56,000 strike holds the maximum Call open interest, with 7.7 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 57,000 strike (6.78 lakh contracts) and the 55,000 strike (6.21 lakh contracts).

Bank Nifty Put Options Data

On the Put side, the maximum Put open interest was seen at the 54,000 strike (with 8.2 lakh contracts), which can act as a key support level for the index. This was followed by the 55,000 strike (7.3 lakh contracts) and the 56,000 strike (4.71 lakh contracts).

Funds Flow and Put-Call Ratio

The Nifty Put-Call ratio (PCR), which indicates the mood of the market, jumped to 1.14 on March 18, compared to a 1.09 in the previous session. The increasing PCR, or being higher than 0.7 or surpassing 1, means traders are selling more Put options than Call options, which generally indicates the firming up of a bullish sentiment in the market.

India VIX and Long Build-up

The India VIX, which measures expected market volatility, slipped 5.39 percent to 18.72, extending its downward trend for the third straight session and signalling increasing comfort for bulls. However, it remains in an elevated zone. Stronger comfort for bulls is likely only if it falls and sustains decisively below the 15–13 levels.

A long build-up was seen in 113 stocks. An increase in open interest (OI) and price indicates a build-up of long positions.

Top 15 Things to Know

1. Key Levels For The Nifty 50 (23,778)
2. Key Levels For The Bank Nifty (55,326)
3. Nifty Call Options Data
4. Nifty Put Options Data
5. Bank Nifty Call Options Data
6. Bank Nifty Put Options Data
7. Funds Flow (Rs crore)
8. Put-Call Ratio
9. India VIX
10. Long Build-up (113 Stocks)
11. Long Unwinding (12 Stocks)
12. Short Build-up (15 Stocks)
13. Short-Covering (70 Stocks)
14. High Delivery Trades
15. Stocks Under F&O Ban

For more information on the stock market and how to make informed investment decisions, visit our website: Nifty today and Sensex news. You can also learn about Indian stock market trends and Q1 results analysis.