📌 Originally published at shunya.trade — View with interactive charts & tools.
Shunya.Trade Options Engine

India Market Pre-Market Analysis

April 21, 202608:45 AM LocalReal-Time Market Data
NIFTY 50
24,365
+0.05%
BANK NIFTY
56,582
+0.03%
Volatility Index — India VIX
18.8% Moderate
NIFTY 50
Bullish
24,365
+0.05%
Intraday
Bearish
Daily
Bullish
Weekly
Bullish
Monthly
Bearish
RSI (63.4)Neutral
OVERSOLDNEUTRALOVERBOUGHT
Analyst Summary
Price holds above the 20-day moving average at 23,404, preserving the near-term bullish structure. Momentum holds constructive at 63 — firmly in bullish territory with room to run before the tape gets stretched. Momentum confirmation from MACD — the signal line crossover is bullish and the histogram continues to expand. Across the full 31-strategy universe, Long Call captures the highest score at 55%. Alignment across trend, momentum, and vol regime drives the ranking.
Support / Resistance
Support22,183
Resistance26,341
Moving Averages
21-day SMA23,412
50-day SMA24,400
100-day SMA25,128
200-day SMA25,155
Moving Average Signals
No significant recent moving average crosses.
Momentum (RSI)
RSI at 63.4 confirms strong buying momentum, with room to run before becoming extremely overbought.
MACD Analysis
MACD is expanding positively, highlighting that buyers are firmly in control of momentum.
Bollinger Bands
Price is trading comfortably within the Bollinger Bands, representing normal historical volatility levels.
Volume Analysis
Recent volume is noticeably higher on up-days, signaling strong underlying buyer accumulation.
Chart Pattern
V-Shape Recovery / Double Bottom Formation
Fibonacci Retracements
LevelPrice
High (0.0%)26,341
23.6%25,360
38.2%24,753
50.0%24,262
61.8%23,771
78.6%23,072
Low (100.0%)22,183
Extensions
ExtensionPrice
Ext 1.13 (Up)26,882
Ext 1.272 (Up)27,472
Ext 1.618 (Up)28,911
Ext 1.13 (Dn)21,642
Ext 1.272 (Dn)21,051
Ext 1.618 (Dn)19,613
Trade Setup
Entry
24,365
Stop Loss
24,091
Take Profit
24,913
Risk / Reward
2.0
Buy
Top Options Strategies
Long Call55%
Buy OTM Call
Call Ratio Backspread55%
Sell 1 lower Call + Buy 2 higher Calls
Short Put (Cash-Secured)52%
Sell OTM Put
BANK NIFTY
Bullish
56,582
+0.03%
Intraday
Bullish
Daily
Bullish
Weekly
Bullish
Monthly
Bearish
RSI (61.5)Neutral
OVERSOLDNEUTRALOVERBOUGHT
Analyst Summary
With price anchored above the 20-day moving average (53,920), the short-term trend channel favours continuation higher. The oscillator at 61 reflects sustained buying interest — bulls control the momentum channel. MACD confirms the directional momentum: histogram above zero and widening. The impulse leg has room to extend. Participation is heavy at 1.6x average volume — this is not a low-liquidity drift, but a committed directional push.
Support / Resistance
Support49,955
Resistance61,765
Moving Averages
21-day SMA53,966
50-day SMA57,096
100-day SMA58,234
200-day SMA57,266
Moving Average Signals
Death Cross identified (50-day crossed below 200-day) — Bearish major signal
Momentum (RSI)
RSI at 61.5 confirms strong buying momentum, with room to run before becoming extremely overbought.
MACD Analysis
MACD is expanding positively, highlighting that buyers are firmly in control of momentum.
Bollinger Bands
Price is trading comfortably within the Bollinger Bands, representing normal historical volatility levels.
Volume Analysis
Recent volume is noticeably higher on up-days, signaling strong underlying buyer accumulation.
Chart Pattern
V-Shape Recovery / Double Bottom Formation
Fibonacci Retracements
LevelPrice
High (0.0%)61,765
23.6%58,978
38.2%57,253
50.0%55,860
61.8%54,466
78.6%52,482
Low (100.0%)49,955
Extensions
ExtensionPrice
Ext 1.13 (Up)63,300
Ext 1.272 (Up)64,977
Ext 1.618 (Up)69,063
Ext 1.13 (Dn)48,420
Ext 1.272 (Dn)46,743
Ext 1.618 (Dn)42,656
Trade Setup
Entry
56,582
Stop Loss
55,717
Take Profit
58,312
Risk / Reward
2.0
Buy
Top Options Strategies
Long Call55%
Buy OTM Call
Call Ratio Backspread55%
Sell 1 lower Call + Buy 2 higher Calls
Short Put (Cash-Secured)52%
Sell OTM Put
Market Search Previews
Key Takeaway
Focus on NIFTY PCR shifts and BANKNIFTY open interest buildup near key strikes for directional cues.
⚠ Disclaimer: This analysis is for educational and informational purposes only. It does not constitute financial advice. Options trading involves significant risk of loss. Past performance does not guarantee future results. Always conduct your own research and consult a qualified financial advisor before making any investment decisions.