Note: The numerical data appearing in this post might not be accurate but approximate due to latency and data processing delays. Please refer to your broker platform for precise figures.
After a flat Monday, NIFTY staged a solid recovery on Tuesday. Opening around ~24370, the index climbed steadily through the morning session and pushed to ~24600 by early afternoon - a gain of roughly 212 points. The closing print of ~24576.60 was near the highs of the day.
India VIX dropped from 18.79 to 17.53. ATM Straddle compressed to 23.40 from 257.40 the prior day, reflecting the drop in implied volatility.
Intraday Snapshot
| Metric | Status |
|---|---|
| Volatility | HIGH |
| Micro Trend | BULLISH |
| Momentum | WEAK |
How the Day Played Out
The open at 24370 was above Monday’s close. Price moved higher through the morning with few pullbacks - a trending structure. The afternoon saw some consolidation around 24500-24550 before the final push to 24600.
PCR & Spot
PCR climbed back above 1.5 - an elevated reading that reflects put-writing at higher strikes. Enhanced PCR held firm above 1.35 through most of the afternoon, suggesting the move had conviction behind it.
The zone to watch on the upside is 24600 - it’s a round number and a prior resistance area from recent sessions. If Nifty reclaims it with PCR staying elevated above 1.0, the next target becomes 24700-24750. On the downside, 24500 acts as the first support, then 24450.
OI Flow & Spot
While price closed near the highs, OI Flow made lower highs throughout the session - a bearish divergence. The indicator dropped into negative territory by afternoon even as spot held firm near 24580. If OI Flow catches up to price on the upside, it would be bullish confirmation; otherwise price may give back some of today’s gain.
Watch the 24450-24500 zone for buyer activity if there is any follow-through.
Order Flow & Spot
Buy-Sell ratio held above 50% for most of the afternoon, meaning futures participants were consistently net buyers. When order flow stays above that threshold during a rally, it indicates real directional conviction rather than passive short covering. The final hour dip below 50% is worth monitoring - if it recovers quickly tomorrow morning, the bounce has legs.
Levels to Watch Tomorrow
- Support: 24,500 (today’s opening range), below that 24,450
- Resistance: 24,600 (today’s high and a prior reaction point)
The bias is bullish but the OI Flow divergence warrants caution. A break above 24600 with PCR above 1.0 and OI Flow turning positive would confirm the bullish case.
Summary
NIFTY closed at ~24576.60 (+211.75). Day low was ~24370 and day high was ~24600. VIX compressed meaningfully to ~17.53.
For live data, visit our Market Dashboard. Previous analysis reports available at Market Analysis.
Disclaimer
This post is for informational purposes only. It is not investment advice. See our Privacy Policy (including disclaimer) for full terms.