Nifty Trade Setup for November 9, 2026

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The Nifty 50 witnessed moderate profit booking after hitting a fresh nine-month high intraday on November 8, during the Muhurat trading session. The index snapped its seven-day winning streak, and ended the extended trading week with gains of 8.4 percent. Hence, further consolidation and profit booking cannot be ruled out, although the broader market structure remains firmly in favour of the bulls. In terms of key levels, 25,200 is expected to act as an immediate hurdle, followed by 25,500 as a crucial resistance. On the downside, 24,800 is likely to provide immediate support, followed by the crucial support zone of 24,400–24,300, 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 (24,986)

Resistance based on pivot points: 25,084, 25,181, and 25,230

Support based on pivot points: 24,937, 24,888, and 24,791

Special Formation: The Nifty 50 formed a small bearish candle with a minor upper shadow on the daily charts, indicating profit booking at higher levels. However, the index continued to trade comfortably above all key moving averages, with all of them trending upward. The RSI eased slightly to 77.42 but remained comfortably above its signal line. The MACD also continued to trend upward, holding firmly above the reference line. However, its green histogram bar contracted after expanding consistently over the previous eight consecutive sessions. Overall, these technical indicators suggest that the broader trend remains firmly bullish, although the easing momentum and profit booking at higher levels point to the possibility of near-term consolidation.

2) Key Levels For The Bank Nifty (58,851)

Resistance based on pivot points: 59,133, 59,415, and 59,585

Support based on pivot points: 58,680, 58,509, and 58,227

Resistance based on Fibonacci retracement: 59,134, 59,243

Support based on Fibonacci retracement: 58,790, 58,681

Special Formation: The Bank Nifty declined 0.4 percent and formed a bearish candle on the daily chart after opening higher, indicating selling pressure at elevated levels. However, the broader structure remains healthy, with the index trading comfortably above all key moving averages, which continue to slope upward. The RSI eased slightly to 72.13 but remained well above its signal line. The MACD maintained its upward trajectory, with the green histogram bar expanding for the eighth consecutive session. Overall, these indicators suggest that the broader trend remains positive, although the bearish candle points to some selling pressure and profit booking at higher levels.

3) Nifty Call Options Data

According to the weekly options data, the 25,500 strike holds the maximum Call open interest (with 1.23 crore contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 25,000 strike (96.98 lakh contracts) and 25,100 strike (84.7 lakh contracts).

Maximum Call writing was observed at the 25,100 strike, which saw an addition of 39.02 lakh contracts, followed by the 25,500 and 25,400 strikes, which added 27.65 lakh and 20.81 lakh contracts, respectively. The maximum Call unwinding was seen at the 25,000 strike, which shed 13.66 lakh contracts, followed by the 24,900 and 24,800 strikes, which shed 10.86 lakh and 7.36 lakh contracts, respectively.

4) Nifty Put Options Data

On the Put side, the maximum Put open interest was seen at the 24,500 strike (with 1.18 crore contracts), which can act as a key support level for the Nifty in the short term. It was followed by the 25,000 strike (69.03 lakh contracts) and the 24,600 strike (61.58 lakh contracts).

The maximum Put writing was placed at the 24,500 strike, which saw an addition of 28.74 lakh contracts, followed by the 25,000 and 24,900 strikes, which added 20.25 lakh and 13.29 lakh contracts, respectively. The maximum Put unwinding was seen at the 24,700 strike, which shed 3.44 lakh contracts, followed by the 24,600 and 25,500 strikes, which shed 2.87 lakh and 47,450 contracts, respectively.

5) Bank Nifty Call Options Data

According to the monthly options data, the 58,000 strike holds the maximum Call open interest, with 20.31 lakh contracts. This can act as a key level for the index in the short term. It was followed by the 60,000 strike (7.46 lakh contracts) and the 59,000 strike (7.39 lakh contracts).

Maximum Call writing was observed at the 59,000 strike (with the addition of 88,200 contracts), followed by the 59,100 strike (21,120 contracts) and 59,200 strike (20,370 contracts). The maximum Call unwinding was seen at the 58,500 strike, which shed 44,490 contracts, followed by the 58,000 and 57,500 strikes, which shed 34,770 and 14,280 contracts, respectively.

6) Bank Nifty Put Options Data

On the Put side, the maximum Put open interest was seen at the 58,000 strike (with 18.73 lakh contracts), which can act as a key level for the index in the short term. This was followed by the 57,500 strike (5.26 lakh contracts) and the 59,000 strike (4.46 lakh contracts).

The maximum Put writing was placed at the 59,400 strike (which added 65,250 contracts), followed by the 59,000 strike (47,160 contracts) and 58,500 strike (16,020 contracts). The maximum Put unwinding was seen at the 58,200 strike, which shed 8,760 contracts, followed by the 57,600 and 58,600 strikes, which shed 8,130 and 6,450 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 1.28 on November 8, compared to 1.47 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, which measures expected market volatility, jumped 5.53 percent to 18.43, its highest closing level since May 20. This signals caution for bulls and points to the possibility of increased volatility ahead, despite the market maintaining its strong uptrend.

10) Long Build-up (49 Stocks)

A long build-up was seen in 49 stocks. An increase in open interest (OI) and price indicates a build-up of long positions.

11) Long Unwinding (43 Stocks)

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

12) Short Build-up (68 Stocks)

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

13) Short-Covering (57 Stocks)

57 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

Stocks removed from F&O ban: Nil

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