Trade setup: After a continuous rise in the last five trading sessions, the formation of a dark cloud cover pattern on the daily chart on April 26, the first day of the May series, is indicating some nervousness in the market. But market experts say that as long as the Nifty 50 index remains above 22,300 points (this is the lower level of last Thursday's long bullish candle), there is no possibility of any major fall in it. At the same time, on the upside, resistance is expected at the level of 22,600. If this hurdle is crossed, Nifty can move towards the level of 22,800. On April 26, the BSE Sensex fell 609 points to close at 73,730. While the Nifty 50 index was down 150 points at 22,420.

Nagaraj Shetty of HDFC Securities says that after the decisive breakout of the crucial negative gap resistance at the 22,500 level on Thursday, April 15, there are no good signs for a Nifty upside in the next session. He believes that after the sharp rise from the lower level, the short-term trend in Nifty is weak. Immediate support is visible for Nifty at 22,300. If this support does not hold, the decline may increase further. Immediate registration for Nifty is at the level of 22,625.

Sharekhan's technical research analyst Jatin Gedia says that unless Nifty shows strength by crossing (22,560 - 22,625), consolidation is expected to continue.

Here we are giving you some such figures based on which it will be easy for you to catch profitable deals. Keep in mind that the figures related to open interest (OI) and volume of stocks given in this story are the sum of data of three months, they are not related to the current month only.

Key support and resistance levels for Nifty

The first resistance for Nifty is located at 22,441 and after that, the other major resistances are located at 22,620 and 22,710. If the index moves downwards, it may get support at 22,386, then 22,330 and 22,240.

bank nifty

The first resistance for Nifty Bank is located at 48,255 followed by other major resistances at 48,689 and 48,914. If the index moves downwards, it may get support at 48,097, then 47,957 and 47,732.

call option data

Every week, maximum call open interest of 62.9 lakh contracts has been seen at the strike of 23,500 which will act as an important resistance level in the coming trading sessions. The highest call writing was seen at the strike of 23,000. 28.29 lakh contracts were added to this strike. The highest call unwinding was seen at the strike of 22,200.

put option data

Maximum Put Open Interest of 52.88 lakh contracts has been seen at the strike of 21,500 which will act as an important support level in the coming trading sessions. Put writing was seen at the strike of 21,800. 18.42 lakh contracts were added to this strike. The highest put unwinding was seen at the strike of 22,600.

Stocks with high delivery percentage

A high delivery percentage shows that investors are showing interest in the stock. The highest deliveries were seen in F&O stocks like Alkem Laboratories, Kotak Mahindra Bank, Balkrishna Industries, SBI Life Insurance Company, and Godrej Consumer Products.

Long build-up seen in 65 stocks

An increase in open interest as well as an increase in prices usually indicate the creation of a long position. Based on open interest future percentage, a long build-up was seen in 65 stocks on the last trading day, among them Hindustan Copper, Sun TV Network, Biocon, Granules India, and Dixon Technologies .

Long unwinding seen in 23 stocks

Long unwinding is usually predicted by a fall in open interest as well as a fall in prices. Based on the open interest future percentage, the 23 stocks that saw maximum long unwinding on the last trading day include the names of Balkrishna Industries, JSW Steel, Tata Consumer Products, Nestle India, and Sun Pharmaceutical Industries.

Short build-up seen in 51 stocks

A short build-up is usually indicated by an increase in open interest as well as a fall in prices. Based on open interest future percentage, the 51 so that saw saw the highest short build-up on the last trading day include the names of L&T Technology Services, Bajaj Finance, Kotak Mahindra Bank, Bajaj Finser v a, and Maruti Suzuki India.

Short covering seen in 48 stocks

Short covering is usually inferred from a fall in open interest coupled with a rise in prices. Based on the open interest future percentage, among the 48 stocks that saw the highest short covering on the last trading day, the names of Coromandel International, Havells India, Divis Laboratories, Axis Bank , and Tech Mahindra are included.