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Published on 06-04-2026 10:49 am

Nifty : Option Data

* Maximum Call OI is at 24000 then 23000 strike while Maximum Put OI is at 22000 then 22200 strike.

* Call writing is seen at 23000 then 23200 strike while Put writing is seen at 22000 then 22300 strike.

* Option data suggests a broader trading range in between 22200 to 23500 zones while an immediate range between 22500 to 23100 levels.

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Published on 06-04-2026 10:49 am

Sensex Technical Outlook

Sensex (CMP : 73319) Sensex support is at 72500 then 72000 zones while resistance at 74500 then 75000 zones. Now it has to cross and hold above 73800 zones for a bounce towards 74500 then 75000 zones while a hold below the same could see weakness towards 72500 then 72000 zones.

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Published on 06-04-2026 10:49 am

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 51549) Bank Nifty support is at 50750 then 50500 zones while resistance at 52000 then 52500 zones. Now it has to hold above 51250 zones for a bounce towards 52000 then 52500 zones while a hold below the same could see some weakness towards 50750 then 50500 levels.

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Published on 06-04-2026 10:48 am

Nifty Technical Outlook

NIFTY (CMP : 22713) Nifty immediate support is at 22500 then 22350 zone while resistance at 22950 then 23150 zones. Now it has to hold above 22650 zones for a bounce towards 22950 then 23150 zones while supports can be seen at 22500 then 22350 zones.

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Published on 06-04-2026 10:48 am

Nifty Bank :51548

The BankNifty Index concluded the volatile week on a negative note tracking negative global cues and rise in crude oil prices. BankNifty settle the week at 51548 down ~1.39%.

Technical Outlook:

* The weekly price action has resulted into long legged Doji like candle with lower high-lower low structure on time-frame, indicating volatility at higher levels.

* Key highlight is that on Friday’s session post gap-down opening, index has sharply recovered its entire decline and filled its opening gap down level, indicating exhaustion of selling pressure amid oversold conditions. Since onset of Iran-US/Israel conflict the index have made multiple pullback attempts, but failed to build the momentum above its short-term moving (10-day EMA) placed at 52575.

* Going ahead, for a meaningful pullback to materialize Index needs to close and sustain above short-term moving average (52575) that would further extend pullback towards 54370 being and 61.8% retracement of recent decline from (57097-50105). Meanwhile, strong support is placed at 48800 (being the 200-week EMA).

* Since Covid there have been six major correction which anchored around ~20% decline, each followed by a gradual recovery over the subsequent quarter. In the current scenario, the index has already corrected ~19% from its peak, indicating that the downside may be approaching maturity, in line with historical corrective cycles.

* Further on the weekly timeframe, the stochastic oscillator has witnessed a bullish crossover from the oversold territory is at 10 levels, indicating positive momentum from deeply oversold conditions, with scope for a gradual pullback ahead. Therefore, on should avoid creating aggressive short position at current juncture , as technical pullback from current levels cannot be ruled out.

* On the broader space, the Nifty PSU Bank has formed high wave like candle at 52-week EMA indicating volatility on both the sides. Next key (6800-9918) support is placed around 7400 being 80% Retracement of Sep-Feb 26 rally

Intraday Rational:

* Trend- Price is making lower low while RSI is making corresponding higher lows, indicating positive divergence

* Levels- Buy around 80% retracement of Thursdays upmove.

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