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Published on 27-04-2026 10:52 am

Nifty : Option Data

* Maximum Call OI is at 24500 then 24000 strike while Maximum Put OI is at 23900 then 23500 strike.

* Call writing is seen at 24000 then 24100 strike while Put writing is seen at 23900 then 23800 strike.

* Option data suggests a broader trading range in between 23400 to 24400 zones while an immediate range between 23600 to 24200 levels.

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Published on 27-04-2026 10:50 am

(CMP: 1101, Mcap Rs. 10,16,383 Cr.)

* Verge of range breakout above 1120.

* Respecting 200 DEMA.

* Accumulation visible.

* RSI indicator positively placed.

* Immediate support at 1060.

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Published on 27-04-2026 10:50 am

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 56089) Bank Nifty support is at 55750 then 55500 zones while resistance at 56500 then 56750 zones. Now it has to hold above 56250 zones for an upmove towards 56500 then 56750 while support can be seen at 55750 then 55500 zones.

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Published on 27-04-2026 10:50 am

Nifty Technical Outlook

NIFTY (CMP : 23897) Nifty immediate support is at 23700 then 23550 zone while resistance at 24150 then 24300 zones. Now it has to hold above 24000 zones for an upmove towards 24150 then 24300 zones while support can be seen at 23700 then 23550 zones

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Published on 27-04-2026 10:36 am

NIFTY 50 futures are currently witnessing a phase of short covering, indicating that earlier bearish positions are being unwound, which is providing a near-term positive bias to the market. This improving sentiment is further supported by the options segment, where Call options are seeing a notable long build-up, reflecting rising expectations of upside potential. At the same time, Put options are witnessing a short build-up, suggesting unwinding of hedges and a reduced perception of immediate downside risk among market participants.
The Put–Call Ratio (PCR) currently stands at 0.82, indicating a relatively neutral to mildly cautious undertone despite the ongoing recovery. From a strike-wise open interest perspective, the 24,100 strike has emerged as a key resistance zone, holding the highest Call open interest of approximately 112,000 contracts. This level is likely to act as a strong supply area, where fresh selling pressure may emerge on any upward move. On the downside, the 24,000 strike holds the highest Put open interest at around 266,000 contracts, making it an important near-term support level, supported by active Put writing and indicating strong willingness among participants to defend this zone.
Overall, the index is expected to face resistance in the 24,100–24,250 zone, while immediate support is placed at 24,000. A more crucial and stronger support base is seen near the 23,800 level, which could act as a cushion in case of any short-term corrective decline. The broader setup suggests a range-bound to mildly positive bias, with key levels likely to guide the next directional move.  
Strategy: Our Research View: OPT MANI/OC - BUY  NIFTY 24100 PE 28 APR 2026 @ 142  TGT1 185  TGT2 215  SL 110  (Exp Retn 51%   Reco Lot 1) 

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