<![CDATA[Trading with Stocko]]>https://tradingwithstocko.substack.comhttps://substackcdn.com/image/fetch/$s_!HP2h!,w_256,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd6456986-c4de-427a-a0b7-8c4303999fc8_256x256.pngTrading with Stockohttps://tradingwithstocko.substack.comSubstackThu, 16 Apr 2026 18:00:06 GMT<![CDATA[Finding high probability setups with Confluence]]>https://tradingwithstocko.substack.com/p/how-confluence-helped-identify-24300https://tradingwithstocko.substack.com/p/how-confluence-helped-identify-24300Thu, 16 Apr 2026 10:10:05 GMTWe discussed this confluence zone live this morning and Nifty delivered

Among the most compelling setups in technical analysis is the confluence of resistance, where multiple independent indicators converge at or near the same price level, dramatically increasing the probability that price will reverse or stall at that zone.

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In our morning live session today, I walked through a confluence resistance zone. What happened in the markets today was almost textbook.

Three things were stacked up at nearly the same level this morning:

Falling Gap: 24,304 – 24,416
50 DMA: 24,242
Upper Bollinger Band: 24,449

Nifty gapped up straight into that zone this morning and couldn’t hold. Sellers showed up exactly where the framework said they would.

Nifty Daily Chart:

Source: Trading View, Nifty 50 daily Chart

That’s the whole point of confluence trading. Using multiple indicators to find high probability setups.

(Disclaimer: Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Refer - https://stocko.in/stocko-disclaimer/. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.)

]]><![CDATA[The Week Ahead: A Rapid Move Approaches Resistance]]>https://tradingwithstocko.substack.com/p/the-week-ahead-a-rapid-move-approacheshttps://tradingwithstocko.substack.com/p/the-week-ahead-a-rapid-move-approachesSun, 12 Apr 2026 13:14:31 GMTThe week ahead, broken down in 10 charts — where the markets stand, what the charts are signaling, and the levels that matter most.

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Top Indices

1. Nifty 50: 24,051 (+5.89%)

  • The index witnessed a strong short-term reversal after exhibiting positive divergence on the RSI.

  • It gapped up above the 20-Day Moving Average (DMA) at 23,237 and sustained above this level.

  • The index has rallied approximately 8% from the recent low of 22,183.

  • Resistance is around the swing high, in the 24,050 – 24,320 zone.

  • Expect consolidation with a retracement towards the gap.

  • Support is around 23,683. A break below this could lead to a decline towards the gap area.

  • Lower support is positioned around the 23,452 level.

Nifty Daily Chart

Chart Source: TradingView

Weekly Support: 23,683 - 23,452 - 23,162

Weekly Resistance: 24,050 - 24,320 - 24,647

2. Bank Nifty: 55,913 (+8.67%)

  • The index has rallied strongly from the low of 49,954 (approximately 12%).

  • It has retraced 50% of its decline from the high of 61,678 to the recent low of 49,954. The 50% retracement level sits at 55,837, and the 62% retracement level is at 57,226.

  • Expect strong resistance in the 55,837 – 57,226 range.

  • Support is around 54,262. A break below this support could lead to short-term declines.

  • Lower support is around the 53,500 level.

Bank Nifty Weekly Chart

Chart Source: TradingView

Weekly Support: 54,262 - 53,500 - 52,701

Weekly Resistance: 56,283 - 57,226 - 57,637

3. Nifty MidCap 100: 57,844 (+7.76%)

  • The index witnessed strength alongside the broader market.

  • A strong weekly move has taken the price toward its resistance level.

  • Prices have retraced 62% (at 57,873) of the decline from the high of 61,521 to the recent low of 52,033.

  • Expect consolidation or a retracement in the coming week.

  • Resistance is around the gap in the 58,814 – 59,014 range.

  • Support is near the recent low at 56,250.

  • Lower support is at 55,651.

Nifty MidCap 100 Daily Chart

Chart Source: TradingView

Weekly Support: 56,250 - 55,651 - 54,665

Weekly Resistance: 58,814 - 59,014 - 59,826

4. Nifty Auto Index: 26,641 (+10.59%)

  • The index tested medium-term support around 23,500 and delivered a strong upward move.

  • This sharp upmove has entered an overbought zone on the daily chart.

  • Prices are currently trading near the upper Bollinger Band on the daily chart.

  • The weekly middle Bollinger Band is situated at 26,962.

  • Expect resistance at higher levels and a potential retracement towards support.

  • Support is around 25,717, while lower support is at 25,296.

Nifty Auto Index Daily Chart

Chart Source: TradingView

Weekly Support: 25,717 - 25,296 - 24,391

Weekly Resistance: 26,962 - 27,046 - 27,453

5. Nifty IT Index: 31,031 (+1.94%)

  • The index witnessed a minor pullback towards the upper Bollinger Band.

  • Prices may see range-bound consolidation between 33,822 on the upside and 28,313 on the downside.

  • Expect prices to trade within this range over the medium term, with intra-week swings.

  • The index remains in a medium-term downtrend with pullback moves emerging from the oversold zone on the daily charts.

  • Support is around the 20-DMA at 29,845; a break below could trigger declines to lower levels.

  • Resistance is around 32,795.

Nifty IT Index Daily Chart

Chart Source: TradingView

Weekly Support: 29,845 - 29,637 - 28,313

Weekly Resistance: 31,927 - 32,795 - 33,822

6. Nifty Pharma Index: 22,165 (+1.63%)

  • Prices are continuing in a medium-term consolidation phase.

  • Choppy swings are visible between the middle and lower Bollinger Bands on the daily timeframe.

  • Expect support in the 21,224 – 21,638 band during intra-week declines.

  • Immediate resistance is at 22,363 (20-DMA).

  • Higher resistance is positioned around the 22,700 level.

Nifty Pharma Index Daily Chart

Chart Source: TradingView

Weekly Support: 21,944 - 21,638 - 21,224

Weekly Resistance: 22,363 - 22,557 - 22,835

7. S&P 500: 6,817 (+3.56%)

  • Prices have seen a sharp upward move (approximately 8%) from the recent low of 6,317.

  • This strong momentum has pushed the price into a cluster of resistance near its all-time high.

  • Prices are trading near the upper Bollinger Band on the daily timeframe, suggesting a short-term overbought reading.

  • An overbought reading may lead to a short-term decline towards the support level.

  • Support is around 6,763; a break below this could trigger a short-term decline to the lower support at 6,614.

  • Resistance is at 6,899, with the all-time high at 7,002.

S&P 500 Daily Chart

Chart Source: TradingView

Precious Metals

8. Gold Comex: 4,787 (+2.30%)

  • Gold prices are witnessing short- and medium-term consolidation.

  • Prices are currently trading above the 20-DMA at 4,693.

  • The short-term consolidation range is bounded by 4,584 on the downside and 4,890 on the upside. Traders should watch this range for a potential breakout.

  • Higher resistance is at 5,012.

  • Lower support is situated around 4,442.

Gold Comex Futures Daily Chart

Chart Source: TradingView

Stocks in Spotlight

9. Dr. Reddy’s: 1,232 (+1.22%)

  • Prices are in a medium-term consolidation phase.

  • The stock is currently trading near its medium-term support base.

  • Support is found in the 1,150 – 1,190 range.

  • Resistance is around the 1,270 level.

  • Expect the stock to find support on intra-week declines.

Dr. Reddy’s Daily Chart

Chart Source: TradingView

10. L&T Finance: 278 (+15.84%)

  • Prices remain in a medium-term downtrend, but recent pullbacks have triggered overbought readings on the daily Bollinger Bands.

  • Prices are currently trading near the upper Bollinger Band.

  • Expect a short-term decline towards the support level.

  • Support is around 272; a break below this could result in a decline to the lower support at 258.

  • Resistance is set around 290.

L&T Finance Daily Chart

Chart Source: TradingView

Join our daily live pre-market update on YouTube. We provide an educational analysis of Nifty and Bank Nifty every morning, giving you a heads-up before the opening bell.

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About the author- Mr. Hitesh Chotalia has over 26 years of experience in the financial markets. He’s worked as a Technical Market Strategist with Sharekhan, Citi Global Markets (Asia Pacific Equity Research), and Centrum Broking.

(Disclaimer: Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Refer - https://stocko.in/stocko-disclaimer/. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.)

]]><![CDATA[Pause after a strong move]]>https://tradingwithstocko.substack.com/p/pause-after-a-strong-movehttps://tradingwithstocko.substack.com/p/pause-after-a-strong-moveThu, 09 Apr 2026 14:46:48 GMTOpening Day: 10 April 2026

1. Nifty Daily Chart: 23,775 (-0.93%)

  • Following a strong gap-up, the index paused and drifted lower.

  • The index may consolidate here with high intraday volatility.

  • The swing high at 24,303 is the immediate resistance.

  • Support is around 23,500.

    Analysis: Expect support around 23,500 on intraday dips.

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Chart Source: TradingView

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Open Interest (Weekly Contract)

  • Call Option: Open interest built up at the 24,000 CE strike stands at 77.10 lakh, and at the 24,200 CE strike, it stands at 47.25 lakh.

  • Put Option: Open interest built up at the 23,500 PE strike stands at 47.00 lakh, and at the 23,300 PE strike, it stands at 22.82 lakh.

Key Technicals

2. Bank Nifty Daily Chart: 54,821 (-1.58%)

  • Following a strong gap-up, the index paused and drifted lower.

  • The index encountered resistance near the 50% retracement level at 55,803.

  • Expect consolidation with resistance around the 55,800 level.

  • Support is around the 54,176 level.

    Analysis: Following the gap-up, expect consolidation.

Chart Source: TradingView

Open Interest (Monthly Contract)

  • Call Option: Open interest built up at the 55,000 CE strike is 7.71 lakh, and at the 55,500 CE strike, it stands at 3.81 lakh.

  • Put Option: Open interest built up at the 54,500 PE strike is 2.36 lakh, and at the 54,000 PE strike, it stands at 5.57 lakh.

Key Techincals

3. Stocks to Watch

Poonawalla Fincorp Daily Chart: 401 (-3.15%)

  • Support is around the recent swing low and the lower Bollinger Band in the range of 384–360.

  • Additional support is around the 275 level.

  • Resistance is around the 435 level.

  • Expect support at lower levels.

Chart Source: TradingView

Dr. Reddy’s Daily Chart: 1,211 (+1.72%)

  • Prices are trading near the lower Bollinger Band.

  • Support is in the range of 1,190–1,170.

  • Resistance is around 1,250.

  • Expect higher levels.

Chart Source: TradingView

Join our daily live pre-market update on YouTube. We provide an educational analysis of Nifty and Bank Nifty every morning, giving you a heads-up before the opening bell.

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About the author- Mr. Hitesh Chotalia has over 26 years of experience in the financial markets. He’s worked as a Technical Market Strategist with Sharekhan, Citi Global Markets (Asia Pacific Equity Research), and Centrum Broking.

(Disclaimer: Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Refer - https://stocko.in/stocko-disclaimer/. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.)

Thanks for reading Trading with Stocko! Subscribe for free to receive new posts and support my work.

]]><![CDATA[Strong gap up]]>https://tradingwithstocko.substack.com/p/strong-gap-uphttps://tradingwithstocko.substack.com/p/strong-gap-upWed, 08 Apr 2026 18:07:39 GMT1. Nifty Daily Chart: 23,997 (+3.78%)

  • The index gapped up and sustained its gains throughout the day’s trading session.

  • The index can extend its gains towards the 24,300 level.

  • The 50% retracement of the decline is at 24,270, and the 62% retracement is at 24,760.

  • Upside momentum remains intact as long as the index maintains above today’s low of 23,828.

    Analysis: Expect the gains to extend towards higher levels.

Chart Source: TradingView

Open Interest (Weekly Contract)

  • Call Option: Open interest built up at the 24,300 CE strike stands at 29.28 lakhs, and at the 24,500 CE strike, it stands at 67.00 lakhs.

  • Put Option: Open interest built up at the 23,900 PE strike stands at 37.73 lakhs, and at the 23,500 PE strike, it stands at 38.89 lakhs.

Key Technicals:

2. Bank Nifty Daily Chart: 55,703 (+5.67%)

  • The index gapped up and sustained its gains throughout the day’s trading session.

  • The index has retraced 50% of its decline from the high of 61,678 to the recent low of 51,133. The 62% retracement level is at 57,223.

  • Support is around the 54,740 level.

  • Lower support is around the 54,060 level.

    Analysis: Expect a continued move towards higher levels.

Chart Source: TradingView

Open Interest (Monthly Contract)

  • Call Option: Open interest built up at the 57,000 CE strike is 5.80 lakhs, and at the 58,000 CE strike, it stands at 12.71 lakhs.

  • Put Option: Open interest built up at the 55,000 PE strike is 6.25 lakhs, and at the 54,000 PE strike, it stands at 5.80 lakhs.

Key Technicals

3. Stocks to Watch

M&M Financial Services Daily Chart: 296 (+6.92%)

  • Prices are highly oversold on the weekly chart.

  • Positive divergence can be seen on the RSI.

  • Support is around the 275 level.

  • Resistance is around the 320 level.

    Analysis: Expect a pullback towards higher levels.

Chart Source: TradingView

Groww Daily Chart: 181 (+8.64%)

  • Prices have closed above the upper end of the falling trendline.

  • The price could test or cross above the all-time high of 193.

  • A breakout above the trendline resistance suggests higher levels.

  • Support is around the 170 level.

    Analysis: Expect higher levels.

Chart Source: TradingView

Join our daily live pre-market update on YouTube. We provide an educational analysis of Nifty and Bank Nifty every morning, giving you a heads-up before the opening bell.

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About the author- Mr. Hitesh Chotalia has over 26 years of experience in the financial markets. He’s worked as a Technical Market Strategist with Sharekhan, Citi Global Markets (Asia Pacific Equity Research), and Centrum Broking.

(Disclaimer: Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Refer - https://stocko.in/stocko-disclaimer/. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.)

]]><![CDATA[Pullback from the Oversold Zone]]>https://tradingwithstocko.substack.com/p/pullback-from-the-oversold-zone-1c7https://tradingwithstocko.substack.com/p/pullback-from-the-oversold-zone-1c7Tue, 07 Apr 2026 15:32:10 GMT1. Nifty Daily Chart: 23,153 (+0.68%)

  • The index has extended its pullback for three consecutive trading sessions.

  • The pullback can extend towards the 20-Day Moving Average (DMA) at 23,282.

  • A close above the 23,282 level will suggest a further upmove.

  • Immediate support is around the 22,720 level.

  • Lower support is around the 22,540 level.

Analysis: The pullback is expected to extend.

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Chart Source: TradingView

Open Interest (Weekly Contract)

  • Call Option: Open interest buildup at the 23,500 CE strike stands at 30.19 lakh, and at the 23,800 CE strike, it stands at 15.55 lakh.

  • Put Option: Open interest buildup at the 23,000 PE strike stands at 30.77 lakh, and at the 22,800 PE strike, it stands at 17.20 lakh.

    Key Technicals:

2. Bank Nifty Daily Chart: 52,716 (+0.20%)

  • The index is extending its pullback and is trading around its recent swing high.

  • The index has closed above the previous week’s high of 52,025 for the last two trading sessions.

  • A pullback towards the resistance band of 53,286 – 53,773 (20 DMA) can be expected.

  • Immediate support is around the 51,751 level.

  • Lower support is around the 51,130 level.

Analysis: Expect higher levels towards the 53,000 mark.

Chart Source: TradingView

Open Interest (Monthly Contract)

  • Call Option: Open interest buildup at the 53,000 CE strike is 6.14 lakh, and at the 53,500 CE strike, it stands at 2.17 lakh.

  • Put Option: Open interest buildup at the 52,500 PE strike is 2.27 lakh, and at the 52,000 PE strike, it stands at 6.06 lakh.

Key Technicals:

3. Stocks to Watch

Jio Finance Daily Chart: 235 (+0.01%)

  • The price has closed above the falling wedge pattern.

  • A positive divergence can be seen on the RSI.

  • Support is around 226.

  • Resistance is around 250.

Analysis: Expect a pullback towards higher levels.

Chart Source: TradingView

Hindustan Copper Daily Chart: 504 (+0.21%)

  • The price has closed around the upper end of the falling channel.

  • The upper boundary of the channel is at 515.

  • A breakout above the channel could lead to higher levels.

  • Resistance is at 535.

  • Support is around 469.

Analysis: Traders should watch out for a breakout.

Chart Source: TradingView

Join our daily live pre-market update on YouTube. We provide an educational analysis of Nifty and Bank Nifty every morning, giving you a heads-up before the opening bell.

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About the author- Mr. Hitesh Chotalia has over 26 years of experience in the financial markets. He’s worked as a Technical Market Strategist with Sharekhan, Citi Global Markets (Asia Pacific Equity Research), and Centrum Broking.

(Disclaimer: Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Refer - https://stocko.in/stocko-disclaimer/. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.)

]]><![CDATA[Pullback from the oversold zone]]>https://tradingwithstocko.substack.com/p/pullback-from-the-oversold-zone-a33https://tradingwithstocko.substack.com/p/pullback-from-the-oversold-zone-a33Mon, 06 Apr 2026 15:40:28 GMT1. Nifty Daily Chart: 22,968 (+1.12%)

  • The index has closed above the recent high of 22,941.

  • A cross above 22,941 suggests the trend on the daily timeframe is now sideways.

  • The index can see a pullback towards the recent swing high.

  • Resistance is around 23,180, and higher resistance is around 23,450.

  • Support is around the 22,550 level.

Analysis: Expect higher levels.

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Chart Source: TradingView

Open Interest (Weekly Contract)

  • Call Option: Open interest built up at the 23,200 CE strike stands at 62.88 lakhs, and at the 23,500 CE strike, it stands at 76.74 lakhs.

  • Put Option: Open interest built up at the 22,600 PE strike stands at 50.55 lakhs, and at the 22,500 PE strike, it stands at 92.13 lakhs.

Key Technicals:

2. Bank Nifty Daily Chart: 52,609 (+2.06%)

  • The index posted a bullish candle and closed around the day’s high.

  • A cross above the recent high at 52,025 changes the trend on the daily chart to sideways.

  • A pullback towards the swing high around 54,146 can be expected in the short term.

  • Support is around 51,061.

  • Resistance is in the band of 53,649–54,166.

Analysis: Expect higher levels towards the 53,000 level.

Chart Source: TradingView

Open Interest (Monthly Contract)

  • Call Option: Open interest built up at the 53,000 CE strike is 5.74 lakhs, and at the 54,000 CE strike, it stands at 6.08 lakhs.

  • Put Option: Open interest built up at the 52,500 PE strike is 2.04 lakhs, and at the 52,000 PE strike, it stands at 5.90 lakhs.

Key Technicals:

3. Stocks to Watch

Long OI

Short OI

Ambuja Cement Daily Chart: 430 (+2.77%)

  • Prices have formed a higher high followed by a higher low.

  • Prices are moving up from a highly oversold zone.

  • Prices can test higher levels around 444–450.

  • Support is around 409.

Analysis: Expect a pullback towards higher levels.

Chart Source: TradingView

Poonawalla Fincorp Daily Chart: 395 (+0.56%)

  • Prices are moving up following a positive divergence on the RSI.

  • Prices have closed around the upper end of the falling channel.

  • On the upside, resistance is around 430–435.

  • Support is around 367.

Analysis: Expect an upmove towards the 430 level.

Chart Source: TradingView

Join our daily live pre-market update on YouTube. We provide an educational analysis of Nifty and Bank Nifty every morning, giving you a heads-up before the opening bell.

YouTube

About the author- Mr. Hitesh Chotalia has over 26 years of experience in the financial markets. He’s worked as a Technical Market Strategist with Sharekhan, Citi Global Markets (Asia Pacific Equity Research), and Centrum Broking.

(Disclaimer: Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Refer - https://stocko.in/stocko-disclaimer/. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.)

]]><![CDATA[The Week Ahead: Oversold Markets ]]>https://tradingwithstocko.substack.com/p/the-week-ahead-oversold-marketshttps://tradingwithstocko.substack.com/p/the-week-ahead-oversold-marketsSun, 05 Apr 2026 18:27:15 GMTThe week ahead, broken down in 10 charts — where the markets stand, what the charts are signaling, and the levels that matter most.

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Top Indices

1. Nifty: 22,713 (-0.47%)

  • The index is highly oversold on the daily and weekly RSI (Relative Strength Index).

  • The daily RSI is exhibiting a positive divergence, suggesting that downward price momentum is weakening.

  • Positive divergence as a reversal sign needs confirmation. Traders should look for reversal signals like higher lows and higher highs on the daily charts.

  • The weekly RSI has entered the oversold zone (27.88). The weekly RSI was last this oversold during the COVID-19 crash.

  • On the daily charts, prices are trading in a downward channel with a sequence of lower highs and lower lows.

  • Support is around 22,190, with lower support around the 21,743 level.

  • Resistance is in the 23,108 – 23,465 zone.

Nifty Daily Chart

Chart Source: TradingView

Weekly Support: 22,190 – 21,743 – 21,304

Weekly Resistance: 22,925 – 23,108 – 23,465

2. Bank Nifty: 51,548 (-1.39%)

  • The downtrend continues with a sequence of lower highs and lower lows.

  • On the daily charts, prices are trading in a downward channel.

  • Signs of positive divergence on the RSI can be seen, which need confirmation for a pullback rally.

  • The index is seeing an intra-week pullback from the daily lower Bollinger Band.

  • The overall trend is down. The impulse is finding support at the lower Bollinger Band, and the pullback is facing stiff resistance around the last swing high.

  • Support is around 49,491, with lower support around 47,495.

  • Resistance is in the 52,941 – 54,146 band.

Bank Nifty Daily Chart

Chart Source: TradingView

Weekly Support: 49,491 – 49,122 – 47,495

Weekly Resistance: 51,950 – 52,941 – 54,146

3. Nifty MidCap 100: 53,677 (-0.26%)

  • Prices are in a downtrend and are trading in a falling channel.

  • In the last seven days, prices have formed a trading range.

  • The lower end of the trading range is at 52,032, and the upper end is at 55,688.

  • Signs of positive divergence on the RSI can be seen, which need confirmation for a pullback rally.

  • Resistance around the swing high is at 54,519, with higher resistance around 55,688.

  • Support is around the recent low at 52,032, with lower support around 51,188.

Nifty MidCap 100 Daily Chart

Chart Source: TradingView

Weekly Support: 52,032 – 51,884 – 51,188

Weekly Resistance: 54,519 – 55,045 – 55,688

4. Nifty Auto Index: 24,089 (-1.08%)

  • The index is trading within a falling wedge pattern.

  • High intra-week volatility can be expected as long as it trades within the falling wedge boundaries.

  • The wedge’s lower boundary is at the 23,400 level, and the upper boundary is at the 24,500 level.

  • A break below the support at 23,400 could lead to declines towards 22,938.

  • Resistance is at 24,500.

Nifty Auto Index Daily Chart

Chart Source: TradingView

Weekly Support: 23,400 – 22,938 – 22,428

Weekly Resistance: 24,500 – 24,835 – 25,265

5. Nifty IT Index: 29,541 (+3.05%)

  • The IT index saw a pullback after exhibiting a positive divergence on the RSI.

  • The Bollinger Bands have flattened, suggesting sideways price action.

  • Prices are contained within a narrow channel.

  • Channel resistance is around 31,200, and support is at 29,262.

  • A break above the channel could result in a trending move towards the gap area around 31,335.

  • A break below the channel could result in a decline towards the recent low at 28,288.

Nifty IT Index Daily Chart

Chart Source: TradingView

Weekly Support: 29,542 – 29,262 – 28,288

Weekly Resistance: 30,622 – 31,200 – 31,335

6. Nifty Pharma Index: 21,808 (-3.36%)

  • Prices are highly oversold on the daily chart and are hovering around the lower Bollinger Band.

  • Thursday’s candle was a hammer, suggesting a trading low around 21,149.

  • Expect consolidation around current levels, with support at 21,149.

  • Resistance is around the 20 DMA at 22,615.

  • Expect range-bound price action with support at lower levels.

Nifty Pharma Index Daily Chart

Chart Source: TradingView

Weekly Support: 22,234 – 22,408 – 22,615

Weekly Resistance: 22,760 – 23,087 – 23,519

7. S&P 500: 6,582 (+3.36%)

  • The index witnessed a pullback from the oversold zone on the RSI.

  • The pullback has retraced towards the 20 DMA at 6,607 and the 200 DMA at 6,644.

  • Expect the pullback to face resistance around the moving averages in the 6,607 – 6,644 zone.

  • A break above the 200 DMA could see the upswing extending.

  • Resistance is at 6,710.

  • Support is around 6,422 – 6,320.

S&P 500 Daily Chart

Chart Source: TradingView

Precious Metals

8. Gold Comex Futures: 4,679 (+4.17%)

  • Gold prices found support around the 200 DMA at 4,100 and saw a pullback.

  • The pullback has retraced towards the 20 DMA at 4,795.

  • A close above the 4,795 level could lead to higher levels towards 4,926.

  • Support is around the hammer candle low at 4,556.

  • Resistance is around 4,944.

  • Support can be expected during intra-week declines.

Gold Comex Futures Daily Chart

Chart Source: TradingView

Stocks in Spotlight

9. Reliance: 1,350 (+0.18%)

  • Prices are trading sideways and are experiencing an intra-week pullback from the oversold zone near the lower Bollinger Band.

  • Resistance is around 1,388.

  • Support is in the 1,310 – 1,282 band.

  • Expect support at lower levels during intra-week declines.

Reliance: Daily Chart

Chart Source: TradingView

10. ABB: 6,142 (+0.61%)

  • Prices have formed a bullish piercing candle on the daily chart.

  • Prices are moving in a falling channel and closed on a strong note around the middle Bollinger Band.

  • A break above 6,160 could trigger an upswing towards higher levels.

  • Support is around 5,840.

  • Resistance is around 6,295, with higher resistance around 6,375.

  • Expect an upswing upon breaking the channel.

ABB: Daily Chart

Chart Source: TradingView

Join our daily live pre-market update on YouTube. We provide an educational analysis of Nifty and Bank Nifty every morning, giving you a heads-up before the opening bell.

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About the author- Mr. Hitesh Chotalia has over 26 years of experience in the financial markets. He’s worked as a Technical Market Strategist with Sharekhan, Citi Global Markets (Asia Pacific Equity Research), and Centrum Broking.

(Disclaimer: Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Refer - https://stocko.in/stocko-disclaimer/. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.)

]]><![CDATA[Pullback Move from the Oversold Zone]]>https://tradingwithstocko.substack.com/p/pullback-move-from-the-oversold-zonehttps://tradingwithstocko.substack.com/p/pullback-move-from-the-oversold-zoneWed, 01 Apr 2026 18:43:12 GMT1. Nifty Daily Chart: 22,679 (+1.56%)

  • The index gapped up but failed to sustain at higher levels.

  • The index is highly oversold, and an intra-week bounce can be expected.

  • Resistance is in the band of 23,073 – 23,470 (swing high).

  • Support is around 22,438.

  • Lower support is around the swing low at 22,283.

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Analysis: Pullback can extend towards channel resistance.

Chart Source: TradingView

Open Interest (Weekly Contract)

Call Options: Open interest built up at the 22,900 CE strike stands at 22.55 lakh, and at the 23,000 CE strike, it stands at 46.34 lakh.

Put Options: Open interest built up at the 22,500 PE strike stands at 29.32 lakh, and at the 22,000 PE strike, it stands at 35.95 lakh.

Key Technicals:

2. Bank Nifty Daily Chart: 51,448 (+2.33%)

  • The index gapped up and encountered stiff resistance around the falling gap.

  • The falling gap is around 52,211.

  • On the candlestick chart, the index has posted a Doji candle, signifying indecision.

  • Support is around the Doji candle low at 51,133.

  • Resistance is around the Doji candle high at 52,025.

  • Traders should watch for a breakout of today’s range.

  • Lower support is around 50,300.

  • Higher resistance is around 52,600.

Analysis: Pullback can stretch towards the gap.

Chart Source: TradingView

Open Interest (Monthly Contract)

Call Options: Open interest built up at the 52,000 CE strike stands at 4.05 lakh, and at the 53,000 CE strike, it stands at 4.99 lakh.

Put Options: Open interest built up at the 51,000 PE strike stands at 5.85 lakh, and at the 50,000 PE strike, it stands at 3.86 lakh.

Key Technicals:

3. Stocks to Watch

ICICI Bank Daily Chart: 1,212 (+0.56%)

  • Prices are in a downtrend, with a sequence of lower highs and lower lows.

  • Prices are moving within a falling channel.

  • The lower end of the channel is around 1,185.

  • Resistance is around the upper end of the channel at 1,245.

  • Expect resistance on any pullback towards the channel high.

Chart Source: TradingView

Nestle Daily Chart: 1,180 (+0.51%)

  • Prices are trading around a key weekly support level.

  • The support zone is in the range of 1,169 – 1,142.

  • RSI has moved up from the oversold zone.

  • Resistance is around 1,220 – 1,245.

  • Expect a pullback towards resistance.

Chart Source: TradingView

Join our daily live pre-market update on YouTube. We provide an educational analysis of Nifty and Bank Nifty every morning, giving you a heads-up before the opening bell.

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About the author- Mr. Hitesh Chotalia has over 26 years of experience in the financial markets. He’s worked as a Technical Market Strategist with Sharekhan, Citi Global Markets (Asia Pacific Equity Research), and Centrum Broking.

(Disclaimer: Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Refer - https://stocko.in/stocko-disclaimer/. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.)

]]><![CDATA[Downswing Continues, Nifty Closes Below Swing Low]]>https://tradingwithstocko.substack.com/p/downswing-continues-nifty-closeshttps://tradingwithstocko.substack.com/p/downswing-continues-nifty-closesTue, 31 Mar 2026 18:34:26 GMT1. Nifty Daily Chart: 22,331 (−2.14%)

  • The index continues its downtrend with a sequence of lower highs and lower lows.

  • Index closed below the swing low at 22,471.

  • Support is around 22,168; a break below 22,168 could see lower levels.

  • Lower support is around 21,750.

  • Resistance is around 22,471.

  • Higher resistance is around 22,812.

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    Analysis: Pullback will face resistance.

Chart Source: TradingView

Open Interest (Weekly Contract)

  • Call Options: OI buildup at the 22,500 CE strike stands at 24.64 lacs; at the 22,600 CE strike, it stands at 11.22 lacs.

  • Put Options: OI buildup at the 22,000 PE strike stands at 23.68 lacs; at the 21,500 PE strike, it stands at 34.00 lacs.

Key Technicals:

2. Bank Nifty Daily Chart: 50,275 (−3.81%)

  • Index gapped down and closed below the swing low.

  • Index is in a downtrend and trading in a falling channel.

  • Intra-week pullbacks are facing strong resistance around the channel high.

  • Support is around 49,985; a break below support could see further weakness.

  • Lower support is around 49,163.

  • Resistance is around 51,377.

    Analysis: Expect lower levels; pullback will face resistance.

Chart Source: TradingView

Open Interest (Monthly Contract)

  • Call Options: OI buildup at the 50,500 CE strike stands at 91.86K; at the 51,000 CE strike, it stands at 3.03 lacs.

  • Put Options: OI buildup at the 50,000 PE strike stands at 3.51 lacs; at the 49,000 PE strike, it stands at 2.36 lacs.

Key Technicals:

3. Stocks to Watch

AU Small Finance Bank Daily Chart: 842 (−4.54%)

  • Prices are in a downtrend with a sequence of lower highs and lower lows.

  • Prices are moving in a falling channel.

  • The lower end of the channel is around the 800 level.

  • Resistance is around 875.

  • Expect declines towards the 800 level.

Chart Source: TradingView

BEL Daily Chart: 400 (−1.01%)

  • Prices are trading in a falling channel, around a key support level.

  • Support is around 397; a break below support could see further declines.

  • Lower support is around the 380 level.

  • Resistance is around the channel high at 415.

  • Expect a short-term decline.

Chart Source: TradingView

Join our daily live pre-market update on YouTube. We provide an educational analysis of Nifty and Bank Nifty every morning, giving you a heads-up before the opening bell.

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About the author- Mr. Hitesh Chotalia has over 26 years of experience in the financial markets. He’s worked as a Technical Market Strategist with Sharekhan, Citi Global Markets (Asia Pacific Equity Research), and Centrum Broking.

(Disclaimer: Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Refer - https://stocko.in/stocko-disclaimer/. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.)

]]><![CDATA[The Week Ahead: Pullback Faces Selling Pressure]]>https://tradingwithstocko.substack.com/p/the-week-ahead-pullback-faces-sellinghttps://tradingwithstocko.substack.com/p/the-week-ahead-pullback-faces-sellingSun, 29 Mar 2026 12:43:52 GMTThe week ahead, broken down in 10 charts — where the markets stand, what the charts are signaling, and the levels that matter most.

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Top Indices

1. Nifty: 22,819 (−1.28%)

  • The index has posted a doji cross candle on the weekly chart, suggesting indecision persisting over the last two weeks.

  • The downward momentum continues with a sequence of lower highs and lower lows.

  • The intra-week pullback encountered stiff resistance around the swing gap at 23,618.

  • RSI is showing a reading of 35 after inching up from the oversold zone.

  • Bollinger Bands are sloping downward, suggesting weakness is likely to continue.

  • Support is around the last swing low at 22,471 and is likely to be tested.

  • Lower support is around the 22,200 level.

  • Resistance is around the recent pullback high at 23,465.

Nifty Daily Chart

Chart Source: TradingView

Weekly Support: 22,471 - 22,200 - 21,747
Weekly Resistance: 23,148 - 23,186 - 23,625

2. Bank Nifty: 52,274 (−2.16%)

  • The index has closed below the medium-term base at 53,483 on a weak note.

  • The intra-week pullback encountered stiff resistance around the 54,000 level.

  • The downward momentum continues and the index may see lower levels.

  • Signs of positive divergence on the RSI can be seen, which need confirmation for a pullback rally.

  • Bollinger Bands are sloping downward, suggesting weakness is likely to continue.

  • Support around the recent low at 51,323 is likely to be tested; a break below can see further weakness.

  • Lower support is around 50,628.

  • Resistance is around 54,000.

Bank Nifty Weekly Chart

Chart Source: TradingView

Weekly Support: 51,323 - 50,628 - 49,911
Weekly Resistance: 53,271 - 53,483 - 54,000

3. Nifty MidCap 100: 54,097 (−1.38%)

  • Prices are in a downtrend and trading within a falling channel.

  • The intra-week pullback is facing stiff resistance around the upper end of the channel.

  • The index is witnessing a minor pullback from the RSI oversold zone.

  • RSI is at 40.28; a reading of 30 and below can be considered oversold.

  • Resistance around the channel high is at 54,800.

  • Higher resistance is around 55,720.

  • Support is around the recent low at 52,573.

  • Lower support is around 51,522.

Nifty MidCap 100 Daily Chart

Chart Source: TradingView

Weekly Support: 53,585 - 52,573 - 51,522
Weekly Resistance: 54,800 - 55,720 - 56,312

4. Nifty Auto Index: 24,351 (−1.47%)

  • The index encountered stiff resistance around the island reversal gap at 25,265.

  • The medium-term trend is down and the short-term trend shows a consolidation pattern.

  • The consolidation band is 23,865–25,265.

  • Expect declines towards the lower band around 23,865.

  • Lower support is around 23,451.

  • Resistance is at 25,265.

  • Expect a decline towards 23,865.

Nifty Auto Index Daily Chart

Chart Source: TradingView

Weekly Support: 23,865 - 23,681 - 23,451
Weekly Resistance: 24,835 - 25,265 - 25,697

5. Nifty IT Index: 29,199 (+0.44%)

  • The daily RSI has moved up from the oversold zone and is exhibiting positive divergence.

  • The pullback lacks strength and will face resistance at higher levels.

  • Prices are contained within a narrow channel.

  • Channel resistance is around 30,813 and support is at 29,020.

  • A break below the channel low at 29,020 could see declines towards the 28,200 level.

  • Channel depth is 6%, so expect 6% intra-week volatility.

Nifty IT Index Daily Chart

Chart Source: TradingView

Weekly Support: 29,020 - 28,268 - 27,255
Weekly Resistance: 30,054 - 30,677 - 30,813

6. Nifty Pharma Index: 22,565 (+0.11%)

  • Prices continue in medium-term consolidation.

  • Prices found support around the 62% retracement level at 22,074 of the last swing (21,188–23,549).

  • Expect support around 22,074 during intra-week declines.

  • Resistance is around 23,087.

  • Expect range-bound price action.

Nifty Pharma Index Daily Chart

Chart Source: TradingView

Weekly Support: 22,047 - 21,841
Weekly Resistance: 22,760 - 23,087 - 23,519

7. S&P 500: 6,368 (−2.12%)

  • Prices are in a short-term and medium-term downtrend.

  • The index has closed below the medium-term support base at 6,521.

  • Expect the downward momentum to continue as long as the index trades below the 6,521 level.

  • The index is oversold on daily charts, with prices below the lower Bollinger Band and RSI showing a reading of 28.66.

  • A strong downtrend can continue to decline in the oversold zone until a price action reversal is observed.

  • The index has support in the range of 6,219.

  • Resistance is at 6,521.

  • Expect a short-term decline towards the support level.

S&P 500 Daily Chart

Chart Source: TradingView

Precious Metals

8. Gold COMEX: 4,492 (−1.80%)

  • Gold prices witnessed an intra-week pullback.

  • RSI inched up from the oversold reading and is currently at 37.21.

  • Prices posted a hammer candle around the medium-term support base.

  • Support is around the hammer candle low at 4,306.

  • Resistance is around 4,601.

  • Support can be expected on intra-week declines.

Gold COMEX Futures Daily Chart

Chart Source: TradingView

Stocks in Spotlight

9. IndiGo: 4,099 (−1.20%)

  • Daily, weekly, and monthly trends for the stock are all down.

  • Prices are currently trading in a falling channel.

  • Resistance is around 4,404.

  • Support is around the lower end of the channel at 3,775.

  • Expect a decline towards the support level.

IndiGo Daily Chart

Chart Source: TradingView

10. BSE: 2,779 (−0.94%)

  • Prices are in short-term consolidation.

  • The consolidation range is 2,965 on the upside and 2,623 on the downside.

  • Prices have closed below the middle Bollinger Band, suggesting a short-term decline.

  • Support is around 2,623.

  • Resistance is around 2,910.

  • Expect a short-term decline towards the support level.

BSE Daily Chart

Chart Source: TradingView

Join our daily live pre-market update on YouTube. We provide an educational analysis of Nifty and Bank Nifty every morning, giving you a heads-up before the opening bell.

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About the author- Mr. Hitesh Chotalia has over 26 years of experience in the financial markets. He’s worked as a Technical Market Strategist with Sharekhan, Citi Global Markets (Asia Pacific Equity Research), and Centrum Broking.

(Disclaimer: Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Refer - https://stocko.in/stocko-disclaimer/. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.)

]]><![CDATA[Pullback rally towards swing highs]]>https://tradingwithstocko.substack.com/p/pullback-rally-towards-swing-highshttps://tradingwithstocko.substack.com/p/pullback-rally-towards-swing-highsThu, 26 Mar 2026 18:17:06 GMT1. Nifty Daily Chart: 23,306 (+1.72%)

  • The pullback continued for the second consecutive day.

  • Rebounding from the oversold zone, the pullback may now test resistance around the last swing high.

  • Resistance from the last swing high is in the range of 23,605 – 23,862.

  • Support is located around 23,061.

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    Analysis: The pullback faces a strong resistance zone ahead.

Chart Source: TradingView

For those interested in learning Option strategies, we’re hosting a special webinar with Mitessh Thakkar a trading veteran and Hitesh Chotalia (25+ years of market experience) on 27th Mar, 4:30–5:30 PM IST.
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Open Interest (Weekly Contract)

  • Call Option: Open interest built up at the 23,500 CE strike stands at 47.86 lakh, and at the 24,000 CE strike, it stands at 77.73 lakh.

  • Put Option: Open interest built up at the 23,200 PE strike stands at 36.84 lakh, and at the 23,000 PE strike, it stands at 74.76 lakh.

Key Technicals:

2. Bank Nifty Daily Chart: 53,708 (+2.10%)

  • The index continued its pullback from the oversold zone.

  • This pullback could extend towards the recent swing high around 54,794 – 55,554.

  • Expect resistance around the swing high levels.

  • Immediate support is around 52,949.

  • Lower support sits around 51,830.

    Analysis: The pullback is stretching towards the resistance zone.

Chart Source: TradingView

Open Interest (Monthly Contract)

  • Call Option: Open interest built up at the 54,000 CE strike is 5.99 lakh, and at the 54,500 CE strike, it stands at 3.11 lakh.

  • Put Option: Open interest built up at the 53,500 PE strike is 3.36 lakh, and at the 53,000 PE strike, it stands at 4.51 lakh.

Key Technicals:

Stocks to Watch

BSE Daily Chart: 2,890 (+3.00%)

  • Prices are currently trading within a range.

  • Resistance can be expected near the upper end of this range, around 2,957 – 3,021.

  • Based on Bollinger Bands, expect prices to become overbought near the upper band, around the 3,000 level.

  • Support is located around 2,790.

Chart Source: TradingView

SCI Daily Chart: 233 (+1.32%)

  • Prices are trading in a falling channel and hovering around the middle Bollinger Band.

  • The channel high and the middle Bollinger Band align around the 244 level.

  • Expect resistance around 244.

  • Support is currently around 220.

  • Analysis: Expect a short-term decline.

Chart Source: TradingView

Join our daily live pre-market update on YouTube. We provide an educational analysis of Nifty and Bank Nifty every morning, giving you a heads-up before the opening bell.

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About the author- Mr. Hitesh Chotalia has over 26 years of experience in the financial markets. He’s worked as a Technical Market Strategist with Sharekhan, Citi Global Markets (Asia Pacific Equity Research), and Centrum Broking.

(Disclaimer: Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Refer - https://stocko.in/stocko-disclaimer/. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.)

]]><![CDATA[Pullback from the oversold zone]]>https://tradingwithstocko.substack.com/p/pullback-from-the-oversold-zonehttps://tradingwithstocko.substack.com/p/pullback-from-the-oversold-zoneTue, 24 Mar 2026 17:35:28 GMT1. Nifty Daily Chart: 22,911 (+1.78%)

  • The index gapped up and staged an intraday pullback.

  • The pullback can retrace 50% - 62% of the last downswing. The 50% retracement is at 23,158, and the 62% retracement is at 23,322.

  • Prices are highly oversold, with a positive divergence on the RSI.

  • Primary support is around 22,684, and lower support is around 22,635.

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    Analysis: The pullback can extend further.

    Chart Source: TradingView

For those interested in learning Option strategies, we’re hosting a special webinar with Mitessh Thakkar a trading veteran and Hitesh Chotalia (25+ years of market experience) on 27th Mar, 4:30–5:30 PM IST.
Register: https://register.gotowebinar.com/#register/3432387684079619421

Open Interest (Weekly Contract)

  • Call Option: Open interest built up at the 23,200 CE strike stands at 21.41 lakh, and at the 23,500 CE strike, it stands at 53.34 lakh.

  • Put Option: Open interest built up at the 22,800 PE strike stands at 23.27 lakh, and at the 22,500 PE strike, it stands at 48.38 lakh.

Key Technicals:

2. Bank Nifty Daily Chart: 52,605 (+2.27%)

  • The index saw a pullback from the oversold zone on the daily chart. This pullback can extend towards the 53,000 level.

  • The pullback can retrace 50% - 62% of the last downswing. The 50% retracement is at 53,447, and the 62% retracement is at 53,951.

  • The RSI is showing a positive divergence on the daily charts.

  • Primary support is around 51,800, and lower support is around 51,323.

    Analysis: Pullback from the oversold zone.

    Chart Source: TradingView

Open Interest (Monthly Contract)

  • Call Option: Open interest built up at the 53,000 CE strike is 4.83 lakh, and at the 54,000 CE strike, it stands at 6.37 lakh.

  • Put Option: Open interest built up at the 52,000 PE strike is 5.71 lakh, and at the 51,500 PE strike, it stands at 4.47 lakh.

Key Technicals:

3. Stocks to Watch

SBIN Daily Chart: 1,030 (-0.11%)

  • Prices are trading around the gap support level.

  • Support is in in the range of 988 - 1,030.

  • Resistance around 1,085.

    Analysis: Prices could see a pullback towards the 1,085 level.

    Chart Source: TradingView

Godrej Properties Daily Chart: 1,540 (+2.89%)

  • Prices are trading within a falling channel and are currently near the support base at 1,475.

  • Primary support is at 1,475. A break below this level could lead to further declines towards the lower support around 1,400.

  • Resistance around 1,602.

    Chart Source: TradingView

Join our daily live pre-market update on YouTube. We provide an educational analysis of Nifty and Bank Nifty every morning, giving you a heads-up before the opening bell.

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About the author- Mr. Hitesh Chotalia has over 26 years of experience in the financial markets. He’s worked as a Technical Market Strategist with Sharekhan, Citi Global Markets (Asia Pacific Equity Research), and Centrum Broking.

(Disclaimer: Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Refer - https://stocko.in/stocko-disclaimer/. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.)

]]><![CDATA[Markets are Highly Oversold]]>https://tradingwithstocko.substack.com/p/markets-are-highly-oversoldhttps://tradingwithstocko.substack.com/p/markets-are-highly-oversoldMon, 23 Mar 2026 13:36:54 GMT1. Nifty Daily Chart: 22,512 (−2.60%)

  • The index gapped down and declined throughout the trading session.

  • Support is around 22,255; a break below can see the decline continue.

  • Lower support is around 22,100.

  • Resistance is at 22,661; a break above 22,661 can see a pullback.

  • Higher resistance is around 23,100–23,345.

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Analysis: Prices are highly oversold.

Chart Source: TradingView

Open Interest (Weekly Contract)

Call Option: Open interest built up at the 22,700 CE strike stands at 41.33 lakh, and at the 23,000 CE strike, it stands at 74.93 lakh.

Put Option: Open interest built up at the 22,300 PE strike stands at 35.49 lakh, and at the 22,000 PE strike, it stands at 80.65 lakh.

Key Technicals:

2. Bank Nifty Daily Chart: 51,437 (−3.72%)

  • The index gapped down and posted a bearish candle. The decline was relentless.

  • The index is trading in a steep falling channel and testing the lower end of the channel on the downside.

  • Support on the downside is around 50,780. A break below 50,780 can see the decline continue.

  • Lower support is around 50,573.

  • Resistance is around 52,041. A break above can see a pullback.

  • Higher resistance is around 53,350–54,147.

Analysis: Highly oversold; expect an intraday pullback above resistance.

Chart Source: TradingView

Open Interest (Monthly Contract)

Call Option: Open interest built up at the 51,500 CE strike stands at 2.00 lakh, and at the 52,000 CE strike, it stands at 3.61 lakh.

Put Option: Open interest built up at the 51,000 PE strike stands at 6.34 lakh, and at the 50,500 PE strike, it stands at 4.87 lakh.

Key Technicals:

3. Stocks to Watch

Adani Ports Chart: 1,303 (−4.53%)

  • Prices are in a short-term downtrend and in a falling channel.

  • Prices are trading around the medium-term support level at 1,290.

  • A break below 1,290 can see further declines towards 1,240 levels.

  • Resistance is around 1,350.

    Chart Source: TradingView

TCS Daily Chart: 2,383 (−0.28%)

  • Prices are in a short- and medium-term downtrend.

  • Currently, prices are consolidating in the range of 2,350–2,482.

  • A break below the lower end of the range can see declines continue.

  • Lower support is around 2,300 levels.

  • Resistance is at the upper end of the range.

Chart Source: TradingView

Join our daily live pre-market update on YouTube. We provide an educational analysis of Nifty and Bank Nifty every morning, giving you a heads-up before the opening bell.

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About the author- Mr. Hitesh Chotalia has over 26 years of experience in the financial markets. He’s worked as a Technical Market Strategist with Sharekhan, Citi Global Markets (Asia Pacific Equity Research), and Centrum Broking.

(Disclaimer: Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Refer - https://stocko.in/stocko-disclaimer/. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.)

]]><![CDATA[The Week Ahead: Downtrend Continues, Highly Oversold]]>https://tradingwithstocko.substack.com/p/the-week-ahead-downtrend-continueshttps://tradingwithstocko.substack.com/p/the-week-ahead-downtrend-continuesSun, 22 Mar 2026 12:31:48 GMTThe week ahead, broken down in 11 charts — where the markets stand, what the charts are signaling, and the levels that matter most.

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Top Indices

1. Nifty: 23,114 (-0.16%)

  • The index has posted a doji candle on the weekly chart, which suggests indecision.

  • The downward momentum continues with intra-week volatility.

  • The index is highly oversold on the daily and weekly Bollinger Bands.

  • The RSI is showing a reading of 31 after inching up from the oversold zone.

  • Signs of positive divergence on the RSI can be seen, which needs confirmation for a pullback rally.

  • Mechanical indicators are in the oversold zone, but prices can continue to decline until we see a price action reversal.

  • Daily swing support is around the 22,960 level; a break below this support could see further declines.

  • Lower support is around 22,600 – 22,470.

  • Resistance is at the two-day matching high around the 22,370 level.

  • Higher resistance is at 23,600.

Nifty Daily Chart

Chart Source: TradingView

Weekly Support: 22,960 – 22,600 – 22,470

Weekly Resistance: 22,370 – 23,600 – 23,862

2. Bank Nifty: 53,427 (-0.62%)

  • The index has closed around the medium-term base of 53,483 on a weak note.

  • The index is highly oversold on the daily and weekly Bollinger Bands.

  • The RSI is showing a reading of 28 after inching up from a highly oversold zone.

  • Signs of positive divergence on the RSI can be seen, which needs confirmation for a pullback rally.

  • Sustaining below 53,483 could lead to further weakness, allowing the impulse of the downtrend to continue.

  • Lower support is around the gap in the range of 52,471 – 51,244.

  • Resistance is around 54,320 – 54,709.

Bank Nifty Weekly Chart

Chart Source: TradingView

Weekly Support: 53,483 – 52,471 – 51,244

Weekly Resistance: 54,125 – 54,320 – 54,709

3. Nifty Mid Cap 100: 54,855 (+0.17%)

  • The index exhibited relative strength compared to the broader indices by holding above the last swing low.

  • Prices are in a downtrend and trading within a falling channel.

  • The channel depth is approximately 6.60%, suggesting high intra-week volatility with sharp swings.

  • Support is around the last swing low at 53,712.

  • Lower support is around 52,806.

  • Resistance around the channel high is at 53,720; a break above this could trigger a pullback to higher levels.

  • Higher resistance is around 56,600.

Nifty Mid Cap 100 Daily Chart

Chart Source: TradingView

Weekly Support: 54,385 – 53,712 – 52,806

Weekly Resistance: 53,720 – 56,600 – 56,900

4. Nifty Auto Index: 24,715 (+2.15%)

  • The index showed a bearish island reversal pattern last week.

  • A bearish island reversal forms when there is an upside gap and a downside gap around the same price level.

  • The island candle high serves as a resistance level in the zone of 25,250 – 25,703.

  • Higher resistance is around 25,880.

  • Support is around the 24,700 level; a break below support could lead to lower levels.

  • Lower support is around 23,850 – 23,500.

Nifty Auto Index Daily Chart

Chart Source: TradingView

Weekly Support: 24,700 – 22,816 – 22,100

Weekly Resistance: 25,250 – 25,703 – 25,880

5. Nifty IT Index: 29,199 (+0.44%)

  • The index is highly oversold in the medium-term timeframe, with the weekly RSI showing a reading of 26 (a reading of 30 and below is considered oversold).

  • The daily RSI has climbed up from the oversold zone and is exhibiting positive divergence.

  • The RSI reading suggests a bounce or pullback in the short term.

  • Support is around 28,288.

  • Lower support is around 27,836.

  • Resistance is around 30,054.

  • Higher resistance is around 30,600.

Nifty IT Index Daily Chart

Chart Source: TradingView

Weekly Support: 28,288 – 27,836 – 27,255

Weekly Resistance: 30,054 – 30,600 – 31,309

6. Nifty Pharma Index: 22,540 (-1.28%)

  • Prices are seeing a medium-term consolidation.

  • Prices have retraced to the 62% retracement level of the last upmove.

  • The 62% retracement level is at 22,074.

  • Lower support is around the gap at 21,640.

  • Resistance is around 22,760.

  • A break above 22,760 could see the index test higher levels.

  • Higher resistance is around the 23,000 level.

Nifty Pharma Index Daily Chart

Chart Source: TradingView

Weekly Support: 22,074 – 21,800 – 21,640

Weekly Resistance: 22,760 – 23,000 – 23,098

7. S&P 500: 6,506 (-1.90%)

  • Prices are in a short-term downtrend and highly oversold at current levels.

  • The index has closed below the long-term 200 DMA at 6,621.

  • An intra-week pullback will face resistance around the 200 DMA level.

  • The index is oversold on the daily charts, as prices are below the lower Bollinger Band and the RSI is showing a reading of 29.88.

  • A strong downtrend can continue to decline in the oversold zone until a price action reversal is observed.

  • The index has support in the range of 6,410 – 6,359.

  • Resistance is at 6,621; higher resistance is around 6,711.

S&P 500 Daily Chart

Chart Source: TradingView

Precious Metals

8. Gold Comex: 4,574 (-9.62%)

  • Gold prices are in a short-term downtrend with a sequence of lower highs and lower lows.

  • In the medium term, prices are undergoing consolidation in a broad range of 5,480 – 4,423.

  • Prices are oversold on the short-term charts.

  • The RSI is exhibiting a reading of 31.82 (30 and below can be considered oversold).

  • Support can be expected around the 4,423 level.

  • Resistance is around 4,872.

Gold Comex Futures Daily Chart

Chart Source: TradingView

9. Silver Comex: 69,665 (-14.36%)

  • Silver prices are in a short-term downtrend with a sequence of lower highs and lower lows.

  • The current downmove is channelized, and prices are moving within the channel boundaries.

  • The channel boundaries are 62,700 on the downside and 78,200 on the upside.

  • For a pullback move, traders should watch out for a channel breakout on the upside.

  • Lower support is around 57,000.

  • Higher resistance is around 88,100.

Silver Comex Futures Daily Chart

Chart Source: TradingView

Stocks in Spotlight

10. Asian Paints: 2,195 (-0.06%)

  • The daily, weekly, and monthly trends for the stock are down.

  • Currently, prices are trading in a symmetrical triangle pattern.

  • A break below 2,172 could lead to further declines toward lower levels.

  • Lower support is around 2,125.

  • Resistance is around the upper end of the triangle at 2,255.

  • Expect a decline toward the support level.

Asian Paints Daily Chart

Chart Source: TradingView

11. ICICI Bank: 1,245 (-0.75%)

  • Prices are in a short- and medium-term downtrend.

  • Currently, prices are consolidating in a narrow range.

  • The range is defined by a downside of 1,238 and an upside of 1,296.

  • A break below the lower end of the range could trigger further short-term decline.

  • Support is around 1,202.

  • Resistance is around 1,296.

ICICI Bank Daily Chart

Chart Source: TradingView

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About the author- Mr. Hitesh Chotalia has over 26 years of experience in the financial markets. He’s worked as a Technical Market Strategist with Sharekhan, Citi Global Markets (Asia Pacific Equity Research), and Centrum Broking.

(Disclaimer: Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Refer - https://stocko.in/stocko-disclaimer/. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.)

]]><![CDATA[Downtrend Resumes Post Pullback]]>https://tradingwithstocko.substack.com/p/downtrend-resumes-post-pullbackhttps://tradingwithstocko.substack.com/p/downtrend-resumes-post-pullbackThu, 19 Mar 2026 16:51:18 GMT1. Nifty Daily Chart: 23,002 (−3.26%)

  • The index gapped down and tested the recent low around 22,955.

  • The index is trading in a falling channel.

  • The pullback encountered stiff resistance around the 62% retracement of the last downswing, at 23,780.

  • Intra-week high volatility continues.

  • Support is around 22,900; a break below can see the decline continue.

  • Lower support is around 22,684.

  • Resistance is around 23,270.

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Analysis: Expect the decline to continue.

Chart Source: TradingView

Open Interest (Weekly Contract)

Call Options: Open interest built up at the 23,200 CE strike stands at 28.29 lakh, and at the 23,300 CE strike, it stands at 45.52 lakh.

Put Options: Open interest built up at the 22,800 PE strike stands at 23.16 lakh, and at the 22,500 PE strike, it stands at 42.13 lakh.

Key Technicals

2. Bank Nifty Daily Chart: 53,451 (−3.39%)

  • The index faced stiff resistance around the 62% retracement level of the last swing decline at 55,645.

  • The index gapped down and tested the recent low around 52,250.

  • A break below can see the impulse of the decline extend, with the index potentially moving towards the 52,600–52,400 range.

  • Resistance is around 54,000.

Analysis: Expect a decline on a break below the 52,250 level.

Chart Source: TradingView

Open Interest (Monthly Contract)

Call Options: Open interest built up at the 53,800 CE strike stands at 1.37 lakh, and at the 54,000 CE strike, it stands at 4.27 lakh.

Put Options: Open interest built up at the 53,000 PE strike stands at 5.24 lakh, and at the 52,500 PE strike, it stands at 4.66 lakh.

Key Technicals

3. Stocks to Watch

Poonawalla Fincorp Daily Chart: 400 (-2.86%)

  • Prices are in a downtrend and moving in a falling channel.

  • The daily chart has a sequence of lower highs and lower lows.

  • Resistance is around 415

  • Support is in the range of 380 -372.

  • Expect declines towards support level in the short term.

Chart Source: TradingView

Adani Ports Daily Chart: 1,356 (−3.27%)

  • Prices are in medium term consolidation and short term downtrend.

  • The daily chart has a sequence of lower highs and lower lows.

  • Resistance is around 1,410.

  • Support is around 1,290 levels.

  • Expect short term declines towards the support level.

Chart Source: TradingView

Join our daily live pre-market update on YouTube. We provide an educational analysis of Nifty and Bank Nifty every morning, giving you a heads-up before the opening bell.

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About the author- Mr. Hitesh Chotalia has over 26 years of experience in the financial markets. He’s worked as a Technical Market Strategist with Sharekhan, Citi Global Markets (Asia Pacific Equity Research), and Centrum Broking.

(Disclaimer: Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Refer - https://stocko.in/stocko-disclaimer/. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.)

]]><![CDATA[Pullback Retraces 62% Retracement of Last Down Swing]]>https://tradingwithstocko.substack.com/p/pullback-retraces-62-retracementhttps://tradingwithstocko.substack.com/p/pullback-retraces-62-retracementWed, 18 Mar 2026 17:05:35 GMT1. Nifty Daily Chart: 23,777 (+0.83%)

  • The index extended its gains for three consecutive days.

  • The pullback has tested the 62% retracement of the last downswing. The 62% retracement level is at 23,780.

  • The next short-term resistance is in the zone of 24,096–24,301.

  • Support is around 23,600.

  • A break below 23,600 could trigger further declines.

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Analysis: Trading around resistance.

Chart Source: TradingView

Open Interest (Weekly Contract)

Call Options: Open interest built up at the 24,000 CE strike stands at 44.08 lakh, and at the 24,500 CE strike, it stands at 44.76 lakh.

Put Options: Open interest built up at the 23,700 PE strike stands at 37.21 lakh, and at the 23,500 PE strike, it stands at 49.05 lakh.

Key Technicals

For those interested in learning Option strategies: Iron Fly and Iron Condors , we’re hosting a webinar on 19th Mar, 4:30–5:30 PM IST with Hitesh Chotalia (25+ years of market experience).
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2. Bank Nifty Daily Chart: 55,326 (+0.82%)

  • The index has seen a pullback and is trading around a cluster of resistance.

  • The 62% retracement level of the last swing decline is at 55,645.

  • Higher resistance is around 56,291.

  • Support is around 54,700 levels.

Analysis: Expect resistance around 55,700 levels.

Chart Source: TradingView

Open Interest (Monthly Contract)

Call Options: Open interest built up at the 55,500 CE strike stands at 3.28 lakh, and at the 56,000 CE strike, it stands at 7.73 lakh.

Put Options: Open interest built up at the 55,100 PE strike stands at 1.45 lakh, and at the 55,000 PE strike, it stands at 7.74 lakh.

Key Technicals

Stocks to Watch

Long OI

Short OI

Dr. Reddy’s Daily Chart: 1,294 (+0.86%)

  • Prices are on the upswing.

  • A confluence of support is around the lower Bollinger Band and the 200 DMA at approximately 1,265 levels.

  • Resistance is around 1,325.

  • Prices can test the resistance level.

Chart Source: TradingView

SCI Daily Chart: 240 (+1.52%)

  • Prices are in a short-term downtrend.

  • Currently, prices are whipsawing around the 50 DMA at 237.

  • A break below the 50 DMA could see prices decline in the short term.

  • Resistance is around 250.

  • Lower support is around 220 levels.

Chart Source: TradingView

Join our daily live pre-market update on YouTube. We provide an educational analysis of Nifty and Bank Nifty every morning, giving you a heads-up before the opening bell.

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About the author- Mr. Hitesh Chotalia has over 26 years of experience in the financial markets. He’s worked as a Technical Market Strategist with Sharekhan, Citi Global Markets (Asia Pacific Equity Research), and Centrum Broking.

(Disclaimer: Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Refer - https://stocko.in/stocko-disclaimer/. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.)

]]><![CDATA[Pullback Extends Towards Resistance @ 23,800]]>https://tradingwithstocko.substack.com/p/pullback-extends-towards-resistancehttps://tradingwithstocko.substack.com/p/pullback-extends-towards-resistanceTue, 17 Mar 2026 16:30:13 GMTNifty Daily Chart: 23,581 (+0.74%)

  • The index extended its pullback from the oversold zone.

  • The pullback can extend towards the 62% retracement of the last downswing, which is at 23,780.

  • The pullback can extend towards the resistance level of 23,560 – 23,700.

  • Support is around 23,365.

  • Lower support is around 23,128.

  • Currently in pullback mode.

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Analysis: The pullback can stretch towards 23,700 levels.

Chart Source: TradingView

Open Interest (Weekly Contract)

Call Options: Open interest build-up at the 23,800 CE strike stands at 16.32 lakh, and at the 24,000 CE strike, it stands at 36.06 lakh.

Put Options: Open interest build-up at the 23,500 PE strike stands at 27.03 lakh, and at the 23,000 PE strike, it stands at 42.80 lakh.

Key Technicals

Bank Nifty Daily Chart: 54,876 (+0.85%)

  • The index posted a candle with a tail on the downside, suggesting support on intraday dips.

  • The pullback extended for a second consecutive day and can test resistance levels around 55,200.

  • The oversold reading could see a near-term pullback.

  • Support is around 54,100.

  • Resistance is around 55,200.

Analysis: Near-term bounce expected from oversold levels.

Chart Source: TradingView

Open Interest (Monthly Contract)

Call Options: Open interest build-up at the 55,000 CE strike stands at 5.97 lakh, and at the 55,500 CE strike, it stands at 2.58 lakh.

Put Options: Open interest build-up at the 54,500 PE strike stands at 3.42 lakh, and at the 54,000 PE strike, it stands at 6.66 lakh.

Key Technicals:

Stocks to Watch

Siemens Daily Chart: 1,406 (-0.55%)

  • Prices are oversold on the daily timeframe.

  • Prices are trading around the lower Bollinger Band.

  • Support is around 1,380 – 1,350.

  • Resistance is around 1,450.

Chart Source: TradingView

Asian Paints Daily Chart: 2,238 (+0.92%)

  • Prices are in a short-term and medium-term downtrend.

  • Currently, prices are consolidating within a narrow range.

  • The defined range is 2,313 on the upside and 2,164 on the downside.

  • A break below the lower end of the range could trigger short-term declines.

  • Lower support is around 2,100 levels.

Chart Source: TradingView

Join our daily live pre-market update on YouTube. We provide an educational analysis of Nifty and Bank Nifty every morning, giving you a heads-up before the opening bell.

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About the author- Mr. Hitesh Chotalia has over 26 years of experience in the financial markets. He’s worked as a Technical Market Strategist with Sharekhan, Citi Global Markets (Asia Pacific Equity Research), and Centrum Broking.

(Disclaimer: Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Refer - https://stocko.in/stocko-disclaimer/. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.)

]]><![CDATA[A Dead Cat Bounce Once Again? Pullback from Oversold Zone]]>https://tradingwithstocko.substack.com/p/a-dead-cat-bounce-once-again-pullbackhttps://tradingwithstocko.substack.com/p/a-dead-cat-bounce-once-again-pullbackMon, 16 Mar 2026 15:49:30 GMT1. Nifty Daily Chart: 23,408 (+1.11%)

  • The index witnessed a pullback from the oversold zone.

  • The index has formed a bullish piercing candle pattern on the daily chart.

  • The pullback can extend towards the resistance level of 23,560 – 23,700.

  • Support is around 23,165.

  • Lower support is around 22,960.

  • Intra-day volatility within the pullback can be expected.

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Analysis: Expect a pullback with intra-day volatility.

Chart Source: TradingView

Open Interest (Weekly Contract)

Call Option: Open interest built up at the 23,500 CE strike stands at 69.62 lakh, and at the 23,700 CE strike, it stands at 61.45 lakh.

Put Option: Open interest built up at the 23,200 PE strike stands at 51.37 lakh, and at the 20,500 PE strike, it stands at 92.93 lakh.

Key Technicals

For those interested in learning Options Greeks(Delta, Theta, Rho, Gamma), we’re hosting a webinar on 12th Mar, 4:30–5:30 PM IST with Hitesh Chotalia (25+ years of market experience).
Register: https://register.gotowebinar.com/#register/8699822437091140957

2. Bank Nifty Daily Chart: 54,413 (+1.22%)

  • The index posted a bullish piercing candle on the daily chart.

  • The index witnessed a pullback from the oversold zone on short-term time frame charts.

  • The pullback can extend towards the resistance zone of 55,000 – 55,300.

  • Support is around 53,750.

  • Lower support is around 53,295.

Analysis: Expect a pullback with high intra-day volatility.

Chart Source: TradingView

Open Interest (Monthly Contract)

Call Option: Open interest built up at the 54,500 CE strike is 3.30 lakh, and at the 55,000 CE strike, it stands at 5.96 lakh.

Put Option: Open interest built up at the 54,000 PE strike is 6.81 lakh, and at the 53,500 PE strike, it stands at 3.10 lakh.

Key Technicals

Stocks to Watch

Long OI

Short OI

Voltas Daily Chart: 1,406 (–0.55%)

  • Prices are in a medium-term consolidation band.

  • Prices are moving in a sideways range in the short term.

  • Support is around the last swing low and gap in the range of 1,334 – 1,268.

  • Resistance is around 1,490.

Chart Source: TradingView

HDFC Bank Daily Chart: 840 (+2.89%)

  • Prices have tested the medium-term support base around the 810 level.

  • Prices are oversold in the short term.

  • Resistance is around the 855 – 860 range.

  • A short-term pullback can be expected.

Chart Source: TradingView

Join our daily live pre-market update on YouTube. We provide an educational analysis of Nifty and Bank Nifty every morning, giving you a heads-up before the opening bell.

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About the author- Mr. Hitesh Chotalia has over 26 years of experience in the financial markets. He’s worked as a Technical Market Strategist with Sharekhan, Citi Global Markets (Asia Pacific Equity Research), and Centrum Broking.

(Disclaimer: Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Refer - https://stocko.in/stocko-disclaimer/. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.)

]]><![CDATA[The Week Ahead: Downtrend Momentum Continues]]>https://tradingwithstocko.substack.com/p/the-week-ahead-downtrend-momentumhttps://tradingwithstocko.substack.com/p/the-week-ahead-downtrend-momentumSun, 15 Mar 2026 12:48:47 GMTThe week ahead, broken down in 11 charts — where the markets stand, what the charts are signaling, and the levels that matter most.

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Top Indices

1. Nifty: 23,151 (-5.31%)

  • Since the COVID-19 low, the index has experienced two medium-degree cycle corrections:

    • Cycle 1 (October 2021 to June 2022): Correction of approximately 18%.

    • Cycle 2 (September 2024 to April 2025): Correction of approximately 17%.

  • Current (Cycle 3): Has already corrected by approximately 12%.

  • Will Cycle 3 follow the previous medium-term corrective cycles?

  • Although the index is oversold, a strong decline can continue its downtrend within this zone until we see a price action reversal.

  • Resistance is around 23,575 - 23,700.

  • Support is around 22,911.

  • Lower support is around 22,485.

Nifty Monthly Chart

Chart Source: TradingView

Weekly Support: 22,911 - 22,485 - 21,690

Weekly Resistance: 23,575 - 23,700 - 24,105

2. Bank Nifty: 53,757 (-6.97%)

  • The index is trading around the lower end of a rising channel.

  • The channel low is around 53,205; a break below this channel could lead to further declines.

  • Lower support is around the gap in the range of 51,863 - 51,244.

  • Resistance is around 54,703 - 55,600.

  • The index is oversold on short-term timeframes.

  • The strong downtrend may continue to decline within oversold territory until a reversal is observed.

Bank Nifty Weekly Chart


Chart Source: TradingView

Weekly Support: 53,205 - 51,863 - 51,244

Weekly Resistance: 54,703 - 55,600 - 56,180

3. Nifty Mid Cap 100: 54,761 (-4.59%)

  • The trend on the daily timeframe is down, showing a sequence of lower highs and lower lows.

  • Prices have closed below the medium-term support level at 55,621.

  • Expect the decline to continue as long as the index sustains below 55,621 on a closing basis.

  • Support is around the gap at 53,336.

  • Lower support is around 52,104.

Nifty Mid Cap 100 Daily Chart

Chart Source: TradingView

Weekly Support: 53,336 - 52,104 - 51,155

Weekly Resistance: 55,621 - 56,096 - 56,598

4. Nifty Auto Index: 24,194 (-10.64%)

  • The trend on both daily and weekly timeframes is down, showing a sequence of lower highs and lower lows.

  • MACD and short-term mechanical indicators are in sell mode.

  • Support is in the range of 23,800 - 22,816.

  • Lower support is around 22,100.

  • Resistance is around the 25,000 level.

  • Expect downward momentum to continue as long as the index trades below the 25,000 level.

  • Expect a decline towards the support levels.

Nifty Auto Index Daily Chart

Chart Source: TradingView

Weekly Support: 23,800 - 22,816 - 22,100

Weekly Resistance: 24,700 - 25,000 - 25,250

5. Nifty IT Index: 29,071 (-3.54%)

  • The trend is down on the daily, weekly, and monthly timeframes.

  • The index has seen a bearish breakout from a short-term consolidation.

  • The RSI is showing a reading of 16.53, suggesting oversold conditions on the daily charts.

  • The strong downtrend can continue within the oversold zone until a price reversal is observed.

  • Support is around 28,346, with lower support around 27,730.

  • Resistance is around 29,854.

  • Expect a decline towards the support levels.

Nifty IT Index Daily Chart

Chart Source: TradingView

Weekly Support: 28,900 - 28,346 - 27,730

Weekly Resistance: 29,493 - 29,854 - 30,200

6. Nifty Pharma Index: 22,832 (-0.60%)

  • Prices are trading in an upward-sloping channel.

  • Prices are seeing range-bound movement with a positive bias.

  • The MACD, signal, and trigger lines are converging.

  • Support is in the range of 22,400 - 22,142.

  • Resistance is around 23,484.

  • The short-term bias is positive.

Nifty Pharma Index Daily Chart

Chart Source: TradingView

  • Weekly Support: 22,685 - 22,400 - 22,142

  • Weekly Resistance: 23,119 - 23,248 - 23,484

7. S&P 500: 6,632 (-1.60%)

  • Prices are in a short-term downtrend, forming a sequence of lower lows and lower highs on the daily chart.

  • The index has breached the short-term support at 6,717 and closed below this level.

  • On the downside, the index could decline towards the medium-term base at 6,524.

  • Resistance at the role-reversal level will be at 6,717.

  • Expect declines towards 6,524.

  • Short-term indicators are in sell mode.

S&P 500 Daily Chart

Chart Source: TradingView

Precious Metals

8. Gold Comex: 5,061 (-1.88%)

  • Gold prices have been seeing a narrow, range-bound consolidation for the past eight days.

  • The narrow range is 5,005 on the downside and 5,248 on the upside.

  • Higher resistance is at 5,427, with lower support around 4,871.

  • Short-term traders should watch out for a range breakout in either direction.

Gold Comex Futures Daily Chart

Chart Source: TradingView

9. Silver Comex: 81,345 (-3.52%)

  • On the weekly charts, prices have exhibited an inside-week candlestick pattern.

  • On the daily timeframe, prices are experiencing intra-week volatility.

  • This intra-week volatility is confined within a range of 89,890 - 78,395.

  • A directional move can be expected upon breaking the established trading range.

  • Short-term traders should watch out for the range breakout.

Silver Comex Futures Daily Chart

Chart Source: TradingView

Stocks in Spotlight

10. Indigo: 4,158 (-5.58%)

  • The daily, weekly, and monthly trends for the stock are down.

  • Prices gapped down during last week’s trading.

  • The gap around 4,297 - 4,338 acts as a short-term resistance zone.

  • The swing low at 4,035 is acting as support.

  • A break below this support could lead to lower levels towards 3,860.

  • Expect a decline towards the support level.

Indigo Daily Chart

Chart Source: TradingView

11. SCI: 238 (-1.04%)

  • Prices are in a short-term downtrend.

  • An intra-week pullback failed to close above the 20 DMA at 255.

  • Short-term support is around the rising gap at 223.

  • Resistance is around 255.

  • Expect a decline towards 223.

SCI Daily Chart

Chart Source: TradingView

Join our daily live pre-market update on YouTube. We provide an educational analysis of Nifty and Bank Nifty every morning, giving you a heads-up before the opening bell.

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About the author- Mr. Hitesh Chotalia has over 26 years of experience in the financial markets. He’s worked as a Technical Market Strategist with Sharekhan, Citi Global Markets (Asia Pacific Equity Research), and Centrum Broking.

(Disclaimer: Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Refer - https://stocko.in/stocko-disclaimer/. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.)

]]><![CDATA[Decline Continues with Lower Lows]]>https://tradingwithstocko.substack.com/p/decline-continues-with-lower-lowshttps://tradingwithstocko.substack.com/p/decline-continues-with-lower-lowsThu, 12 Mar 2026 16:52:04 GMTNifty Daily Chart: 23,639 (-0.95%)

  • The index continued its downtrend and breached the recent low.

  • The lower-high and lower-low pattern continues.

  • Intraday bounces are finding resistance and being sold into.

  • The index could test lows around 23,400, with lower support at 23,269.

  • The index is oversold on short-term timeframes.

  • Resistance is seen around 23,880.

  • A strong decline can push the index deeper into the oversold zone until we see a sign of a price action reversal.

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Analysis: Expect lower levels.

Chart Source: TradingView

Open Interest (Weekly Contract)

  • Call Option: Open interest buildup at the 23,700 CE strike stands at 30.38 lakh, and at the 23,800 CE strike, it stands at 26.71 lakh.

  • Put Option: Open interest buildup at the 23,600 PE strike stands at 40.04 lakh, and at the 23,500 PE strike, it stands at 44.06 lakh.

Key Technicals:

Bank Nifty Daily Chart: 55,100 (-1.14%)

  • Prices posted a bearish candle with an upside wick. This suggests selling pressure around the 55,700 level.

  • The index is oversold in the short term, with the entire day’s candle trading below the lower Bollinger Band.

  • Strong declines can push the index deeper into the oversold zone until we see signs of a price action reversal.

  • On the downside, prices could test the 54,500 level. Lower support is around 54,209.

  • Resistance is around today’s high at 55,636.

Analysis: The downswing continues. Expect declines toward the 54,500 level.

Chart Source: TradingView

Open Interest (Monthly Contract)

  • Call Option: Open interest buildup at the 55,500 CE strike is 1.91 lakh, and at the 56,000 CE strike, it stands at 5.73 lakh.

  • Put Option: Open interest buildup at the 54,500 PE strike is 2.10 lakh, and at the 54,000 PE strike, it stands at 6.37 lakh.

Key Technicals:

3. Stocks to Watch

Long OI

Short OI:

L&T Daily Chart: 3,719 (-3.11%)

  • The short-term trend is down.

  • Prices could decline toward the 3,605 level.

  • Resistance is around 3,850.

Chart Source: TradingView

Grasim Daily Chart: 2,673 (-2.28%)

  • A close below 2,665 could see prices decline toward 2,550.

  • Resistance is around 2,750.

  • Expect short-term declines.

Chart Source: TradingView

Join our daily live pre-market update on YouTube. We provide an educational analysis of Nifty and Bank Nifty every morning, giving you a heads-up before the opening bell.

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About the author- Mr. Hitesh Chotalia has over 26 years of experience in the financial markets. He’s worked as a Technical Market Strategist with Sharekhan, Citi Global Markets (Asia Pacific Equity Research), and Centrum Broking.

(Disclaimer: Any video/image/text content is for educational and informational purposes only and does not constitute financial advice. Refer - https://stocko.in/stocko-disclaimer/. Please do your own research or consult a qualified financial advisor before making any investment or trading decisions. Trading in stock markets involves the risk of loss.)

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