Today’s BSE Sensex; NSE Nifty and Bank Nifty Support and Resistance
Today’s BSE Sensex; NSE Nifty and Bank Nifty Support and Resistance: Indian stock market indexes trimmed some early gains but are trading positive above their flat line. Media, Pharma, and Realty sectors are trading higher, while PSU Bank, Energy, and Metal sectors are in red.
Today’s BSE Sensex; NSE Nifty & Bank Nifty Support & Resistance
Nifty Support and Resistance at 11.50 a.m IST
Nifty trimmed some early gains and is trading higher by only 18 points or 0.06% at 22231 levels. The index made a high of 22297.50 and a day’s low of 22206, with a movement of 91.5 points till now. The Nifty Futures February series is trading at a 31-point premium at 22270, in comparison to the Nifty 50 spot price.
According to the Nifty weekly option chain data (29 Feb) showed that the Open Interest (OI) distribution for Nifty Put options is most notable at 22000, indicating likely support for today. Meanwhile, on the Call side, significant Open Interest concentrations are identified at the 22300 strike prices, suggesting potential resistance levels for Nifty.
According to Prabhudas Lilladher, the reputed broking house, Nifty has support at 22115 levels while it has resistance at 22355 for the day.
Bank Nifty Support and Resistance at 11.55 a.m IST
The Bank Nifty index also pared some early gains and currently trading slightly higher by 34 points or 0.07% at 46954 level. The index made a high of 47245.35, while hit a day’s low at 46851.80 so far on the spot price, with a movement of 393.55 points. The Bank Nifty Futures for 29 February expiry is trading at a premium of 116 points at 47070 compared to the Bank Nifty spot price.
The Bank Nifty weekly option chain data (29 Feb) reveals that the Put options 46500 hold the most substantial concentration. This level will likely serve as a critical support zone for the day. Conversely, the Bank Nifty Call strike at 47200 followed by 47500 exhibits notable OI concentrations, signifying potential resistance levels for the day.
According to Prabhudas Lilladher, Bank Nifty has support at 46556 levels while it has resistance at 47387 for the day.
Today’s BSE Sensex Support and Resistance at 12 pm IST
BSE Sensex opened higher and also trimmed some early gains. Sensex is trading higher by 103 points or 0.14% at 73261 levels. The index made a high of 73413.93 and a day’s low of 73145.28, with a movement of 268.65 points till now.
Today’s BSE Sensex weekly option chain data (23 Feb ) reveals that the Put options 73200 and 73000 hold the most substantial concentration. This level is likely to serve as a critical support zone for the day. Conversely, today’s BSE Sensex Call strikes at 73500 exhibits notable OI concentrations, signifying potential resistance levels for the day.
According to Prabhudas Lilladher, today’s BSE Sensex has support at 72408 levels while it has resistance at 73583 for the day
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