The stock market closed with gains on October 18. Earlier, after three days of weakness, the Nifty index closed above 24,850, up 104 points. According to experts, the immediate resistance level in Nifty is 25,000. Here we are telling you about some important data points, which will help you to trade better in the market on October 21:
1) Important level for Nifty 50
Resistance based on pivot points: 24,891, 24,966, and 25,088
Support based on Pivot Points: 24,648, 24,573, and 24,451
2) Important level for Bank Nifty
Resistance based on pivot points: 52,223, 52,506, and 52,963
Support based on pivot points: 51,307, 51,024, and 50,566
3) Nifty Call Options Data
According to Weekly Options data, there is maximum open interest (with 57.19 lakh contracts) at 26,000 strikes. This level can act as an important resistance level for Nifty in the short term. After this the figures were 25,000 strikes (52.52 lakh contracts) and 25,500 strikes (42.13 lakh contracts).
4) Nifty Put Options Data
On the put side, maximum open interest was seen at 24,000 (with 42.37 lakh contracts), which can act as an important support level for Nifty. After this the figures were 24,500 strikes (36.26 lakh contracts) and 24,800 strikes (33.11 lakh contracts).
5) Bank Nifty Call Options Data
According to Weekly Options data, there is maximum open interest (with 18.77 lakh contracts) at 53,000 strike. This level can act as an important resistance level for Bank Nifty in the short term. After this this figure increased to 52,500 strikes (16.93 lakh contracts) and 52,000 Strike was (14.75 lakh contracts).
6) Bank Nifty Options Data
On the put side, maximum open interest was seen at 51,500 (with 26.5 lakh contracts), which could act as an important support level for the index. After this the figures were 51,000 strikes (22.91 lakh contracts) and 52,000 strikes (13.55 lakh contracts).
