Nifty Trade Setup for November 5, 2026

Market Mastery

Webinar by Vishal Malkan

Find the weak links

in your portfolio by Vishal Malkan

Amid back-to-back rallies and strengthening bullish momentum, Nifty 50 bulls appeared firmly in control, rising 0.63 percent on November 4, extending its winning streak to the fifth consecutive session. With gains of around 4 percent so far this week, the benchmark is heading for its best weekly performance since April 2026. A decisive move above all key moving averages, the continuation of the higher high-higher low formation, falling crude oil prices below $100 a barrel, and Donald Trump's Republican Party losing the US midterm elections have boosted market confidence. Going forward, the index is expected to advance towards the 24,200–24,400 resistance zone in the upcoming sessions, followed by 24,800, which is close to its August high. Meanwhile, the immediate support base has shifted higher to the 23,600–23,700 zone, according to market experts.

Here are 15 data points we have collated to help you spot profitable trades:

1) Key Levels For The Nifty 50 (23,961)

Resistance based on pivot points: 23,973, 24,036, and 24,137

Support based on pivot points: 23,771, 23,709, and 23,608

Special Formation: The Nifty 50 continued to form long bullish candles, closing above the previous day's high for the fifth consecutive session, indicating strengthening bullish momentum. The index finally reclaimed its 200-day EMA for the first time since August 13, while its short- and medium-term moving averages continued to slope upwards. The RSI remained comfortably above 60, at 68.55, while the MACD maintained its upward trajectory, with the green histogram bars continuing to expand for the fifth consecutive session. Furthermore, the index moved above the 61.8 percent Fibonacci retracement level of its decline from 24,774 to 22,180 and is now heading towards the 78.6 percent retracement level. All these technical indicators point towards strengthening bullish momentum and suggest that the underlying trend remains firmly positive.

2) Key Levels For The Bank Nifty (55,914)

Resistance based on pivot points: 55,968, 56,122, and 56,371

Support based on pivot points: 55,469, 55,315, and 55,066

Resistance based on Fibonacci retracement: 56,173, 56,775

Support based on Fibonacci retracement: 55,049, 54,035

Special Formation: The banking index rose 0.67 percent and moved above its 50-day EMA for the first time since September 4, forming a long bullish candle on the daily timeframe and signalling improving buying interest. The index is now just 400 points away from its 200-day EMA, placed at 56,300, while its short-term moving averages continue to trend higher. The RSI is gradually approaching the 60 mark, currently standing at 57.18, while the MACD has maintained its upward trajectory and is inching towards the zero line. Additionally, the green MACD histogram bars have continued to expand for the fourth consecutive session. All these technical indicators point towards a gradual improvement in momentum and a strengthening price structure, suggesting further recovery in the banking index.

3) Nifty Call Options Data

According to the weekly options data, the maximum Call open interest was seen at the 24,000 strike (with 86.42 lakh contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 23,900 strike (65.29 lakh contracts) and 24,200 strike (63.02 lakh contracts).

Maximum Call writing was observed at the 23,900 strike, which saw an addition of 32.85 lakh contracts, followed by the 24,000 and 23,950 strikes, which added 28.25 lakh and 26.15 lakh contracts, respectively. The maximum Call unwinding was seen at the 23,600 strike, which shed 20 lakh contracts, followed by the 23,700 and 23,500 strikes, which shed 10.74 lakh and 5.83 lakh contracts, respectively.

4) Nifty Put Options Data

On the Put side, the 23,500 strike holds the maximum Put open interest (with 71.23 lakh contracts), which can act as a key support level for the Nifty in the short term. It was followed by the 23,600 strike (60 lakh contracts) and the 23,700 strike (57.52 lakh contracts).

The maximum Put writing was placed at the 23,900 strike, which saw an addition of 50.07 lakh contracts, followed by the 23,800 and 23,500 strikes, which added 29.56 lakh and 26.71 lakh contracts, respectively. There was hardly any Put unwinding seen in the 23,500-24,450 strike band.

5) Bank Nifty Call Options Data

According to the monthly options data, the maximum Call open interest was seen at the 56,000 strike, with 11.24 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 57,000 strike (10.98 lakh contracts) and the 55,000 strike (10.03 lakh contracts).

Maximum Call writing was observed at the 55,700 strike (with the addition of 1.28 lakh contracts), followed by the 55,800 strike (78,450 contracts) and 55,900 strike (64,410 contracts). The maximum Call unwinding was seen at the 57,000 strike, which shed 90,540 contracts, followed by the 55,500 and 55,000 strikes, which shed 53,790 and 20,790 contracts, respectively.

6) Bank Nifty Put Options Data

On the Put side, the 55,000 strike holds the maximum Put open interest (with 13.11 lakh contracts), which can act as a key support level for the index in the short term. This was followed by the 56,000 strike (7.2 lakh contracts) and the 55,500 strike (6.5 lakh contracts).

The maximum Put writing was placed at the 55,700 strike (which added 2.04 lakh contracts), followed by the 56,000 strike (1.01 lakh contracts) and 55,500 strike (81,930 contracts). The maximum Put unwinding was seen at the 56,400 strike, which shed 67,050 contracts, followed by the 54,700 and 54,900 strikes, which shed 14,910 and 10,530 contracts, respectively.

7) Funds Flow (Rs crore)

8) Put-Call Ratio

The Nifty Put-Call ratio (PCR), which indicates the mood of the market, fell to 1.15 on November 4, compared to 1.2 in previous session.

The increasing PCR, or being higher than 0.7 or surpassing 1, means traders are selling more Put options than Call options, which generally indicates the firming up of a bullish sentiment in the market. If the ratio falls below 0.7 or moves towards 0.5, then it indicates selling in Calls is higher than selling in Puts, reflecting a bearish mood in the market.

9) India VIX

The India VIX, also known as the fear gauge, snapped its three-day winning streak, declining 3.4 percent to 15.19 and signalling some relief for the bulls. However, a sustained decline below the 14 mark would be necessary for bullish market participants to gain greater comfort.

10)Long Build-up (95 Stocks)

A long build-up was seen in 95 stocks. An increase in open interest (OI) and price indicates a build-up of long positions.

11) Long Unwinding (16 Stocks)

16 stocks saw a decline in open interest (OI) along with a fall in price, indicating long unwinding.

12) Short Build-up (16 Stocks)

16 stocks saw an increase in OI along with a fall in price, indicating a build-up of short positions.

13) Short-Covering (96 Stocks)

96 stocks saw short-covering, meaning a decrease in OI, along with a price increase.

14) High Delivery Trades

Here are the stocks that saw a high share of delivery trades. A high share of delivery reflects investing (as opposed to trading) interest in a stock.

15) Stocks Under F&O Ban

Securities banned under the F&O segment include companies where derivative contracts cross 95 percent of the market-wide position limit.

Stocks added to F&O ban: Nil

Stocks retained in F&O ban: Kaynes Technology India, SAIL

Stocks removed from F&O ban: Nil

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.