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Nifty

Nifty has shown its first meaningful signs of stabilization after eight consecutive weekly declines. The daily Inside Bar, emerging positive RSI divergence and weekly Doji near the long-term average suggest the possibility of a relief rally. Derivatives positioning also offers some near-term support, with the overall Put-Call Ratio at 1.14 and fresh Put OI additions concentrated at 22400 and 22000. However, significant Call OI at 23000 indicates a key overhead hurdle, while the index’s position around the 200-week WEMA and elevated ADX warrant caution. A sustained move above 22800 would strengthen the recovery case towards 23000. Conversely, failure to reclaim key resistance could trigger renewed selling towards 22050, with the 22000 strike also emerging as an important derivatives-based support reference. Traders should avoid chasing the initial rebound, monitor the Inside Bar breakout and prioritize stock-specific opportunities with disciplined risk management until the broader trend improves.

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