1) Market Snapshot (pre-open read)
- Tone: flat to mildly positive.
- GIFT Nifty: indicating a small gap-up bias vs prior close.
- USD/INR & Crude: broadly steady; not a fresh headwind at the open.
2) Nifty & Bank Nifty — Key Levels (intraday)
Nifty 50
- Supports: 24,300 → 24,200, then 24,000.
- Resistances: 24,720 → 24,850, then 25,000 (psych + call wall).
- Bias: Neutral; constructive above 24,720. Cautious on sustained trade below 24,200.
Bank Nifty
- Supports: 52,100 → 51,800; deeper 51,300.
- Resistances: 52,900 → 53,300; stretch 53,800.
- Bias: Needs leadership from large banks to power Nifty through 24.7k.
3) Cash Market Flows (last trading day)
- FII: Net sellers (continuing to fade strength).
- DII: Net buyers (supporting dips).
- Read: Domestic money is cushioning declines; foreign flow remains a headwind on rallies.
4) FII Index Futures — Longs vs Shorts
- Posture: FIIs remain net short in index futures (shorts > longs).
- Implication: A decisive push above 24,720–24,850 can trigger short-covering pops; repeated failure near 25,000 risks fresh call-writing and fade trades.
5) August Monthly Options — OI Heatmap (quick read)
- Call OI (resistance): heaviest stack around 25,000, with layers at 24,900 / 24,800.
- Put OI (support): meaningful base from 24,600 → 24,000, densest near 24,200–24,400.
- Max-pain (indicative): mid-24k. Acceptance above 25k = fast squeeze risk; slip under 24.2k = long unwinds accelerate.
6) News & Updates (what matters for the open)
- Earnings tape: Ongoing Q1 FY26 prints; expect stock-specific action in financials, consumers, autos/industrials on numbers and guidance.
- Macro backdrop: Trade/tariff chatter and global risk tone remain swing factors; any sharp headline can override technicals intraday.
7) US Calendar — Tonight (India time)
- Tone: No single “blockbuster” release flagged for tonight; focus on rates narrative, yields, and US earnings. Surprise Fed-speak or a data beat/miss can sway overnight risk and our next open.
8) Today’s Playbook (actionable checklist)
- Opening zone:
- Hold above 24,720–24,850 → momentum-long bias toward 25,000 (trail tight near CE walls).
- Lose 24,300/24,200 → look for quick mean-reversion bounces; if rejected, 24,000 test opens up.
- Option bands: Reaction at 25,000 CE wall and 24,200 PE base sets the day’s direction.
- Flows: Any sign of FII short-covering (drop in short OI / rise in index-future longs) can extend rallies.
- Sector leadership: Banks for index thrust; watch autos/industrials for relative strength; metals sensitive to global prints.
- Risk: Whipsaws near 25k call-wall. Use defined stops; scale only on acceptance beyond key bands.
One-liner Risk Summary
Two-way market: DIIs supportive, FIIs a drag, short interest elevated, call walls crowded → higher whipsaw risk near resistance. Keep sizing disciplined and stops tight.