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

India Market Post-Market Review

April 22, 202603:45 PM LocalReal-Time Market Data
NIFTY 50
24,378
-0.81%
BANK NIFTY
57,124
-0.43%
Volatility Index — India VIX
18.3% Moderate
NIFTY 50
Strong Bullish
24,378
-0.81%
Intraday
Bearish
Daily
Strong Bullish
Weekly
Bullish
Monthly
Bearish
RSI (80.3)Overbought
OVERSOLDNEUTRALOVERBOUGHT
Analyst Summary
The 20-day SMA at 23,512 continues to act as dynamic support — price remains above it, reinforcing upside bias. At 80 on the RSI, the asset is technically overbought. Momentum can sustain here, but the probability of a corrective pause rises. On the MACD front, the histogram is positive and the fast line sits above the signal line — textbook bullish configuration. Volume is running cold at 0.0x the norm. Without broader participation, the current directional bias is vulnerable.
Support / Resistance
Support22,183
Resistance26,009
Moving Averages
21-day SMA23,488
50-day SMA24,349
100-day SMA25,095
200-day SMA25,144
Moving Average Signals
No significant recent moving average crosses.
Momentum (RSI)
RSI is extremely high at 80.3 (Overbought), indicating price is extended and a pullback is likely.
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
Higher Highs and Higher Lows (Uptrend Structure)
Fibonacci Retracements
LevelPrice
High (0.0%)26,009
23.6%25,106
38.2%24,548
50.0%24,096
61.8%23,644
78.6%23,002
Low (100.0%)22,183
Extensions
ExtensionPrice
Ext 1.13 (Up)26,507
Ext 1.272 (Up)27,050
Ext 1.618 (Up)28,374
Ext 1.13 (Dn)21,685
Ext 1.272 (Dn)21,142
Ext 1.618 (Dn)19,818
Trade Setup
Entry
24,378
Stop Loss
24,128
Take Profit
24,878
Risk / Reward
2.0
Strong Buy
Top Options Strategies
Long Call63%
Buy OTM Call
Call Ratio Backspread63%
Sell 1 lower Call + Buy 2 higher Calls
Short Put (Cash-Secured)60%
Sell OTM Put
BANK NIFTY
Strong Bullish
57,124
-0.43%
Intraday
Bearish
Daily
Strong Bullish
Weekly
Bullish
Monthly
Bullish
RSI (83.7)Overbought
OVERSOLDNEUTRALOVERBOUGHT
Analyst Summary
Price holds above the 20-day moving average at 54,206, preserving the near-term bullish structure. With RSI at 84, the risk/reward for new long entries deteriorates. Favour strategies that benefit from a pullback or consolidation. MACD histogram remains in positive territory, underpinning the current directional move. At 0.0x average volume, the move is thinly traded. Liquidity gaps could trigger sharp reversals on any catalyst.
Support / Resistance
Support49,955
Resistance61,679
Moving Averages
21-day SMA54,170
50-day SMA56,980
100-day SMA58,197
200-day SMA57,265
Moving Average Signals
Death Cross identified (50-day crossed below 200-day) — Bearish major signal
Momentum (RSI)
RSI is extremely high at 83.7 (Overbought), indicating price is extended and a pullback is likely.
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
Higher Highs and Higher Lows (Uptrend Structure)
Fibonacci Retracements
LevelPrice
High (0.0%)61,679
23.6%58,912
38.2%57,200
50.0%55,817
61.8%54,433
78.6%52,464
Low (100.0%)49,955
Extensions
ExtensionPrice
Ext 1.13 (Up)63,203
Ext 1.272 (Up)64,868
Ext 1.618 (Up)68,924
Ext 1.13 (Dn)48,431
Ext 1.272 (Dn)46,766
Ext 1.618 (Dn)42,709
Trade Setup
Entry
57,124
Stop Loss
56,360
Take Profit
58,652
Risk / Reward
2.0
Strong Buy
Top Options Strategies
Long Call66%
Buy OTM Call
Call Ratio Backspread66%
Sell 1 lower Call + Buy 2 higher Calls
Short Put (Cash-Secured)63%
Sell OTM Put
Market Search Previews
Key Takeaway
Monitor FII/DII derivative flow shifts and expiry-week gamma compression for institutional-grade positioning.
⚠ 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.