Manish Salvi
17 Jul • 9:43 AM · SEBI-Registered Analyst
MOMENTUM MANTRA DAILY RUN-UP 📅 17 July 2026
MOMENTUM MANTRA DAILY RUN-UP
📅 17 July 2026
🔔 Opening View
Indian markets are likely to open on a flat note, with GIFT Nifty trading near 24,094, down around 2 points (-0.01%). Mixed global cues and ongoing geopolitical uncertainty may keep early trade range-bound, while the 24,100 zone will remain a key level to watch. 📈📊
📈 Market Recap
Nifty erased most of its early gains and ended nearly flat as profit booking emerged amid elevated crude oil prices, persistent Middle East tensions, FII outflows, and weak global cues. However, softer-than-expected U.S. inflation helped limit the downside and supported overall sentiment. 📊
📈 Nifty Key Levels
▪️ Support: 24,000 | 23,950
▪️ Resistance: 24,200 | 24,270
💰 FII/DII Flow
▪️ FII: -₹4,205.56 crore
▪️ DII: +₹2,986.41 crore
📊 Options Positioning
▪️ PCR: 0.83 (Neutral to Bearish) – Indicates higher Call writing than Put writing, reflecting a cautious near-term market bias. 📉
▪️ Resistance: 24,100–24,200 zone, with significant Call OI concentration and fresh Call writing likely to cap the upside.
▪️ Support: 24,000–23,900 zone, backed by notable Put OI concentration providing immediate downside support.
▪️ Max Pain: 24,100 – Suggests Nifty may gravitate around this level ahead of expiry. 📊
▪️ Interpretation: PCR at 0.83 reflects a cautious undertone, with Call writers maintaining control near the 24,100–24,200 zone. Unless Nifty decisively moves above 24,200, the index may remain range-bound to weak, while the 24,000–23,900 zone remains the key support area.
🏭 Sectoral Outlook
🟢 Bank Nifty – Positive Bias
🟢 PSU Bank – Positive Bias
🟢 Pharma – Positive Bias
🟢 Metal – Constructive
🟢 Energy – Constructive
🟢 Auto – Positive Bias
🟢 Realty – Constructive
🚫 F&O Ban List
