Nifty Trade Setup for July 31, 2026

The Nifty 50 posted gains of 0.3 percent despite range-bound trading, extending its uptrend for another session on July 30. Given the improvement in momentum indicators and the index sustaining well above its short- and medium-term moving averages, while continuing to form a higher high-higher low pattern backed by higher trading volumes, along with stable crude oil prices and a subdued India VIX, the index is expected to advance towards its immediate hurdle at 24,400 (200-day EMA). A decisive move above this level could pave the way for the 24,500-24,600 zone (previous swing highs, which have also attracted the maximum Call open interest), provided the 24,100 level continues to hold as support, according to experts.

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

1) Key Levels For The Nifty 50 (24,317)

Resistance based on pivot points: 24,342, 24,379, and 24,438

Support based on pivot points: 24,223, 24,186, and 24,127

Special Formation: The Nifty 50 maintained its overall uptrend and has already recovered the previous week's losses. On the daily timeframe, the index formed a bullish candlestick with minor upper and lower wicks, indicating consolidation near overhead resistance levels such as the 200-day EMA and previous swing highs, while continuing to maintain a higher high-higher low formation. The index sustained above its 20-, 50-, and 100-day EMAs, reflecting a bullish bias, while the RSI climbed to 57.66 and remained above the reference line. Meanwhile, the MACD is on the verge of a bullish crossover. All these indicators point to strengthening bullish momentum and suggest the potential for a further upside move, provided key support levels remain intact.

2) Key Levels For The Bank Nifty (57,147)

Resistance based on pivot points: 57,230, 57,340, and 57,519

Support based on pivot points: 56,872, 56,762, and 56,583

Resistance based on Fibonacci retracement: 57,253, 59,247

Support based on Fibonacci retracement: 56,441, 55,742

Special Formation: The Bank Nifty continued to trade between the 20-day EMA and the 50- and 100-day EMAs, as well as within the 23.6 percent and 38.2 percent Fibonacci retracement levels of the rally from the May low to the June high, for the fourth consecutive session, indicating a lack of clear direction. The banking index formed a Doji-like candlestick pattern on the daily charts, signalling indecisiveness among participants for another session. The RSI remained largely unchanged at 49.44 and stayed below the reference line, suggesting a lack of strong bullish or bearish momentum. Meanwhile, the MACD continued to inch down towards the zero line, although the red histogram bars showed fading weakness. All these indicators suggest that Bank Nifty is likely to remain range-bound until a decisive breakout or breakdown provides a clearer directional bias.

3) Nifty Call Options Data

According to the weekly options data, the maximum Call open interest was seen at the 24,600 strike (with 1.01 crore contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 24,500 strike (99.84 lakh contracts) and 24,700 strike (77.46 lakh contracts).

Maximum Call writing was observed at the 24,500 strike, which saw an addition of 31.18 lakh contracts, followed by the 24,600 and 24,650 strikes, which added 29.53 lakh and 16.92 lakh contracts, respectively. The maximum Call unwinding was seen at the 24,200 strike, which shed 11.82 lakh contracts, followed by the 24,450 and 24,000 strikes, which shed 9.65 lakh and 8.5 lakh contracts, respectively.

4) Nifty Put Options Data

On the Put side, the 24,000 strike holds the maximum Put open interest (with 1.09 crore contracts), which can act as a key support level for the Nifty in the short term. It was followed by the 24,200 strike (1.07 crore contracts) and the 24,300 strike (59.55 lakh contracts).

The maximum Put writing was placed at the 24,300 strike, which saw an addition of 32.46 lakh contracts, followed by the 24,200 and 24,000 strikes, which added 19.19 lakh and 18.44 lakh contracts, respectively. The maximum Put unwinding was seen at the 24,700 strike, which shed 30,810 contracts, followed by the 24,750 and 24,850 strikes, which shed 2,730 and 910 contracts, respectively.

5) Bank Nifty Call Options Data

According to the monthly options data, the maximum Call open interest was seen at the 58,000 strike, with 21.25 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 57,000 strike (8.03 lakh contracts) and the 57,500 strike (5.01 lakh contracts).

Maximum Call writing was observed at the 57,000 strike (with the addition of 1.37 lakh contracts), followed by the 58,000 strike (74,220 contracts) and 57,500 strike (52,770 contracts). The maximum Call unwinding was seen at the 57,400 strike, which shed 27,930 contracts, followed by the 58,100 and 58,200 strikes, which shed 7,530 and 3,510 contracts, respectively.

6) Bank Nifty Put Options Data

On the Put side, the 58,000 strike holds the maximum Put open interest (with 13.12 lakh contracts), which can act as a key level for the index in the short term. This was followed by the 57,000 strike (8.47 lakh contracts) and the 57,500 strike (3.66 lakh contracts).

The maximum Put writing was placed at the 57,000 strike (which added 89,490 contracts), followed by the 56,600 strike (46,080 contracts) and 56,800 strike (45,930 contracts). The maximum Put unwinding was seen at the 57,200 strike, which shed 67,950 contracts, followed by the 57,400 and 58,000 strikes, which shed 4,860 and 1,020 contracts, respectively.

7) Funds Flow (Rs crore)

8) Put-Call Ratio

The Nifty Put-Call ratio (PCR), which indicates the mood of the market, climbed to 1.26 on July 30, from 1.18 compared to 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

India VIX, which measures expected market volatility, remained near lower levels and continued to trade below all its key moving averages despite rising 1.23 percent to 12.15 on Thursday, indicating a favourable environment for bulls amid overall market stability. A sustained move below the 12 mark could provide additional comfort to bullish market participants.

10) Long Build-up (36 Stocks)

A long build-up was seen in 36 stocks. An increase in open interest (OI) and price indicates a build-up of long positions.

11) Long Unwinding (54 Stocks)

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

12) Short Build-up (77 Stocks)

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

13) Short-Covering (43 Stocks)

43 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: Nil

Stocks removed from F&O ban: Nil