IGI Logo

Published on 20-03-2026 10:42 am

GEPL DATA POINTS: NIFTY 50 futures are currently witnessing a sustained long build-up, indicating that market participants are actively creating fresh long positions and positioning for potential upside in the near term. This positive sentiment is further supported by the options data, where a notable long build-up in Call options reflects aggressive Call buying, signaling expectations of upward price movement. Concurrently, a short build-up in Put options suggests reduced hedging demand and a degree of confidence among traders regarding downside protection.
The Put–Call Ratio (PCR) stands at 0.81, pointing toward a broadly balanced market undertone with a slight positive bias. From a strike-wise open interest perspective, the highest concentration of Call open interest is observed at the 23,300 strike, with approximately 127,800 contracts, establishing a key resistance zone in the range of 23,350–23,525. On the downside, substantial Put open interest is concentrated at the 23,000 strike, with nearly 146,000 contracts, marking a strong support zone between 23,000 and 22,820. The continued addition of Put positions around these levels highlights market participants’ confidence in the index sustaining above this support band, thereby acting as a cushion against sharp downside moves.
Overall, the derivatives structure suggests a mild bullish bias in the near term. However, the 23,350 level remains a crucial hurdle; a decisive and sustained breakout above this resistance zone could potentially trigger an extended upside move, paving the way for higher levels in the sessions ahead.
Strategy: Our Research View: OPT MANI/OC - BUY  NIFTY 23200 CE 24 MAR 2026 @ 285  TGT1 340  TGT2 385  SL 238  (Exp Retn 35%   Reco Lot 1)

Please refer disclaimer at https://web.geplcapital.com/term-disclaimerSEBI Registration number is INH000000081

Published on 20-03-2026 10:31 am

Nifty

Nifty opened on a huge downward gap and selling pressure from opening tick dragged index lower to close on a negative note.. Niftyclosedat23002 with a loss of 776 points. On the daily chart the index has formed a Bearish candle with a long upper shadow indicating sellingat higherlevels. The chart pattern suggests that if Nifty breaks and sustains below 22930 level it would witness selling which would leadtheindextowards 22800-22690 levels. However, if index crosses above 23100 level it would witness pullback rally which would take the indextowards23200-23400.

Click Here :- https://tinyurl.com/yf23fj3k

Please refer disclaimer at https://jainam.in/SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785

Published on 20-03-2026 10:28 am

Sensex Technical Outlook

Sensex (CMP : 74207) Sensex support is at 73800 then 73500 zones while resistance at 74700 then 75000 zones. Now till it holds below 74500 zones, weakness could be seen towards 73800 then 73500 zones while hurdles have shifted lower to 74700 then 75000 zones.

Click Here :- https://tinyurl.com/nhfn8s2t

For More Motilal Oswal Securities Ltd Disclaimer http://onlinetrade.motilaloswal.com/emailers/Disclaimer3.html SEBI Registration number is INH000000412

Published on 20-03-2026 10:28 am

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 53451) Bank Nifty support is at 53000 then 52750 zones while resistance at 53750 then 54000 zones. Now till it holds below 53750 zones weakness could be seen towards 53000 then 52750 levels while on the upside hurdle is seen at 53750 then 54000 levels.

Click Here :- https://tinyurl.com/nhfn8s2t

For More Motilal Oswal Securities Ltd Disclaimer http://onlinetrade.motilaloswal.com/emailers/Disclaimer3.html SEBI Registration number is INH000000412

Published on 20-03-2026 10:27 am

Nifty Technical Outlook

NIFTY (CMP : 23002) Nifty immediate support is at 22750 then 22500 zone while resistance at 23333 then 23500 zones. Now till it holds below 23150 zones weakness could be seen towards 22750 then 22500 zones while hurdles have shifted lower to 23333 then 23500 zones.

Click Here :- https://tinyurl.com/nhfn8s2t

For More Motilal Oswal Securities Ltd Disclaimer http://onlinetrade.motilaloswal.com/emailers/Disclaimer3.html SEBI Registration number is INH000000412