Nifty today ended about 121 points higher to form a reasonable bullish candle on the daily chart with a minor upper shadow.
The short term trend of Nifty continues to be positive. A decisive move above 19800 levels is likely to pull Nifty towards the next upside levels of 20,000-20,200 in the near term. Important support is placed at 19650 levels, said Nagaraj Shetti of HDFC Securities.
Open Interest (OI) data showed that on the call side, the highest OI was observed at the 20,000 strike price, followed by 19,900 strike price. On the put side, the highest OI was at 9,600 strike price. For Bank Nifty, the support levels are at 44,300-44,200, while resistance is placed at 44,800-45,000 levels.