Trade Setup for October 30: Top 15 things to know before the opening bell

On the downside, a break below 22,800 could see the index test support at 22,700, followed by 22,500, which remains a crucial support level, experts said. Here are 15 data points we have collated to help you spot profitable trades: 1) Key Levels For The Nifty 50 (22,937) Resistance based on pivot points: 22,968, 23,040, and 23,157 Support based on pivot points: 22,735, 22,663, and 22,547 Special Formation: The Nifty 50 formed a long bullish candle on the daily charts following an indecisive patterns, indicating the emergence of strong buying interest.

The index climbed above its 20-day EMA and the midline of the Bollinger Bands but continued to trade below its 50-day and 200-day EMAs, both of which were sloping downward. The RSI rose to 50.85 and sustained its bullish crossover, while the MACD maintained its uptrend above the signal line. The histogram also formed a dark green bar after contracting over the previous six sessions. These indicators suggest improving bullish momentum, although the broader trend remains cautious.

2) Key Levels For The Bank Nifty (54,910) Resistance based on pivot points: 55,002, 55,222, and 55,578 Support based on pivot points: 54,290, 54,070, and 53,714 Resistance based on Fibonacci retracement: 55,128, 55,538 Support based on Fibonacci retracement: 54,035, 52,784 Special Formation: The Bank Nifty surged 1.18 percent and formed a long bullish candle on the daily timeframe for the second consecutive session, indicating that bulls are steadily gaining strength.

The index reclaimed the 50 percent Fibonacci retracement level of its recent decline from 56,065 to 53,626 but failed to surpass its 20-day EMA and the midline of the Bollinger Bands. It also continued to trade well below its 50-day and 200-day EMAs. The RSI climbed to 47.06, sustaining its bullish crossover, while the MACD appeared poised for a positive crossover. The MACD histogram's red bar also shrank significantly after expanding over the previous three sessions.

These indicators suggest improving bullish momentum and the possibility of further recovery, although the index needs to reclaim its key moving averages to strengthen the near-term outlook. 3) Nifty Call Options Data According to the weekly options data, the maximum Call open interest was seen at the 23,500 strike (with 1.18 crore contracts). This level can act as a key resistance level for the Nifty in the short term.

It was followed by the 23,400 strike (81.42 lakh contracts) and 23,000 strike (80.33 lakh contracts). Maximum Call writing was observed at the 23,500 strike, which saw an addition of 39.14 lakh contracts, followed by the 23,400 and 23,300 strikes, which added 33.68 lakh and 18.9 lakh contracts, respectively. The maximum Call unwinding was seen at the 22,700 strike, which shed 28.83 lakh contracts, followed by the 22,800 and 22,750 strikes, which shed 17.93 lakh and 13.28 lakh contracts, respectively.

4) Nifty Put Options Data On the Put side, the 22,700 strike holds the maximum Put open interest (with 91.99 lakh contracts), which can act as a key support level for the Nifty in the short term. It was followed by the 22,800 strike (85.05 lakh contracts) and the 22,600 strike (76.58 lakh contracts). The maximum Put writing was placed at the 22,800 strike, which saw an addition of 58.24 lakh contracts, followed by the 22,900 and 22,700 strikes, which added 45.09 lakh and 40.99 lakh contracts, respectively.

There was hardly any Put unwinding seen in the 22,550-23,500 strike band. 5) Bank Nifty Call Options Data According to the monthly options data, the maximum Call open interest was seen at the 56,000 strike, with 10.87 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 55,000 strike (10.45 lakh contracts) and the 55,500 strike (6.5 lakh contracts).

Maximum Call writing was observed at the 54,900 strike (with the addition of 50,760 contracts), followed by the 55,200 strike (39,780 contracts) and 56,500 strike (37,980 contracts). The maximum Call unwinding was seen at the 55,000 strike, which shed 98,730 contracts, followed by the 54,500 and 54,300 strikes, which shed 60,390 and 50,010 contracts, respectively. 6) Bank Nifty Put Options Data On the Put side, the 55,000 strike holds the maximum Put open interest (with 10.74 lakh contracts), which can act as a key level for the index in the short term.

This was followed by the 54,000 strike (7.13 lakh contracts) and the 56,000 strike (6.38 lakh contracts). The maximum Put writing was placed at the 54,500 strike (which added 99,720 contracts), followed by the 54,900 strike (67,050 contracts) and 54,700 strike (62,160 contracts). The maximum Put unwinding was seen at the 54,100 strike, which shed 23,910 contracts, followed by the 53,700 and 53,800 strikes, which shed 9,690 and 4,170 contracts, respectively.

7) Funds Flow (Rs crore) The Nifty Put-Call ratio (PCR), which indicates the mood of the market, jumped to 1.31 on October 29, compared to 1.07 in 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.

The India VIX, also known as the fear index, fell 6.94 percent to 15.11, extending its decline for the third consecutive session and offering some relief to the bulls. However, the index needs to fall below the 13 mark for bulls to move into a comfort zone and for greater stability to emerge in the market. 10) Long Build-up (76 Stocks) A long build-up was seen in 76 stocks. An increase in open interest (OI) and price indicates a build-up of long positions.

11) Long Unwinding (14 Stocks) 14 stocks saw a decline in open interest (OI) along with a fall in price, indicating long unwinding. 12) Short Build-up (28 Stocks) 28 stocks saw an increase in OI along with a fall in price, indicating a build-up of short positions. 13) Short-Covering (106 Stocks) 106 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: Kaynes Technology India, SAIL Stocks removed from F&O ban: Nil