Trade setup for August 18: Will NIFTY50 bounce back on Monday? Check details

NIFTY50 snapped the six-week losing streak and closed in green on Thursday. Some short-covering sentiment led the rally in the latter half of the week. NIFTY50 Max call OI: 25,000 Max put OI: 24,600 (Ten strikes to ATM, 21 Aug expiry) NIFTY50 snapped the six-week losing streak and closed in green on Thursday. Some short-covering sentiment led the rally in the latter half of the week. The index is expected to open slightly higher on Monday morning, amid positive global and local cues. PM Modi’s announcement on GST reforms by Diwali is expected to remain a major cue on Monday. In addition, the positive outcome from the Trump-Putin meeting on Friday is also expected to bolster global market sentiments. On the technical charts, the index looks to form a rounding bottom formation after consolidating near the 24,500 levels and briefly closing above it in the previous week. Experts believe that the bullishness is expected to grip the index only after sustaining comfortably above the 20 SMA levels of 24,757. nifty50-aug-18-25.webp On the options data front, the 25,000 witnessed a strong open interest addition for the 21 Aug expiry, indicating strong resistance at these levels. On the other hand, the 24,600 puts hold the highest open interest, indicating the nearest support for the coming expiry. nifty50-aug-18-2025.webp ALSO READ | Market cap of five of 10 most valued firms climbs ₹60,675.94 crore Stock Scanner Long buildup: Wipro, Eternal Short buildup: Tata Steel Top traded futures contracts: Infy, Muthoot Finance Top traded options contracts: Infy 1500 CE, TCS 3100 CE F\&O securities under ban: RBL Bank, PNB Housing, PGEL, Titagarh F\&O securities out of the ban: - To access a specially curated smartlist of the most traded and active stocks, as well as the OI gainers and losers, simply log in: https://pro.upstox.com/ ➡️F\&O➡️Options smartlist/Futures smartlist In Futures and Options or F\&O, long build-up means an increase in Open Interest (OI) along with a price increase, and short build-up means an increase in Open Interest(OI) along with a price decrease. Source: Upstox and NSE. Disclaimer: Derivatives trading must be done only by traders who fully understand the risks associated with them and strictly apply risk mechanisms like stop-losses. The information is only for consumption by the client, and such material should not be redistributed. We do not recommend any particular stock, securities or strategies for trading. The securities quoted are exemplary and are not recommended. The stock names mentioned in this article are purely for showing how to do analysis.