The Nifty 50 rose 1.3 percent on October 9 after hitting an 18-month low. Experts said the index needs to reclaim 22,800 to confirm a trend reversal. While bearish momentum eased, the broader market remains weak. Traders should watch 22,300 as immediate support before the opening bell on October 12.
Nifty Trade Setup for October 12, 2026
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The Nifty 50 rebounded sharply on October 9, rising 1.3 percent after a day of heavy selling that dragged the index to an 18-month low. Chart patterns on both daily and weekly timeframes signalled a potential trend reversal, but strong follow-through buying is needed to confirm the reversal. Until then, consolidation may continue, with bears retaining firm control over the broader market structure. The index needs to reclaim and sustain levels above 22,800, near the weekly high, to extend its upward move towards 23,000, a crucial hurdle. On the downside, 22,300 is expected to act as immediate support, followed by 22,180, which is a key support level, according to experts.
Here are 15 data points we have collated to help you spot profitable trades:
1) Key Levels For The Nifty 50 (22,520)
Resistance based on pivot points: 22,575, 22,642, and 22,751
Support based on pivot points: 22,356, 22,289, and 22,179
Special Formation: The Nifty 50 formed a Bullish Harami candlestick pattern on the daily charts following a sharp downtrend, indicating a potential bullish reversal and signs of easing bearish pressure. However, the reversal needs confirmation through sustained follow-up buying in the coming sessions. The Relative Strength Index (RSI) rose to 36.5 and registered a positive crossover but remained below the 40 mark, indicating that momentum was still weak. The MACD histogram signalled easing bearish momentum, although the MACD line has remained below the signal line since mid-August. The index continued to trade below all key moving averages, with all of them sloping downward. Overall, these technical indicators suggest that bearish momentum may be easing, but the broader trend remains weak.
2) Key Levels For The Bank Nifty (55,257)
Resistance based on pivot points: 55,404, 55,593, and 55,900
Support based on pivot points: 54,791, 54,602, and 54,296
Resistance based on Fibonacci retracement: 55,897, 57,285
Support based on Fibonacci retracement: 54,053, 52,784
Special Formation: The Bank Nifty formed a long bullish candle on the daily charts following a sharp correction in the previous session, rallying 1.36 percent and closing above the 55,200 resistance level. This indicates improving sentiment, although sustained follow-up buying is necessary to extend the upward move. The index closed firmly above the 10-day EMA but remained well below the other key moving averages — the 20-, 50-, 100- and 200-day EMAs. The RSI climbed above its signal line to 45.20, while the MACD registered a bullish crossover, with the histogram turning green for the first time since the beginning of September. Overall, the technical indicators point to improving bullish momentum and a potential recovery, but the index needs sustained buying and a move above additional resistance levels to confirm a stronger trend reversal.
3) Nifty Call Options Data
According to the weekly options data, the 23,000 strike holds the maximum Call open interest (with 1.42 crore contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 22,900 strike (95.65 lakh contracts) and 22,500 strike (95.24 lakh contracts).
Maximum Call writing was observed at the 22,900 strike, which saw an addition of 22.91 lakh contracts, followed by the 22,950 and 23,100 strikes, which added 8.65 lakh and 6.34 lakh contracts, respectively. The maximum Call unwinding was seen at the 22,400 strike, which shed 79.1 lakh contracts, followed by the 22,300 and 22,700 strikes, which shed 47.12 lakh and 34.72 lakh contracts, respectively.
4) Nifty Put Options Data
On the Put side, the maximum Put open interest was concentrated at the 22,500 strike (with 1.28 crore contracts), which can act as a key support level for the Nifty in the short term. It was followed by the 22,300 strike (1.13 crore contracts) and the 22,400 strike (1.07 crore contracts).
The maximum Put writing was placed at the 22,500 strike, which saw an addition of 99.53 lakh contracts, followed by the 22,400 and 22,300 strikes, which added 77.68 lakh and 59.25 lakh contracts, respectively. The maximum Put unwinding was seen at the 22,900 strike, which shed 1.28 lakh contracts, followed by the 22,800 and 23,000 strikes, which shed 1.11 lakh and 82,290 contracts, respectively.
5) Bank Nifty Call Options Data
According to the monthly options data, the 56,000 strike holds the maximum Call open interest, with 11.48 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 (9.3 lakh contracts) and the 56,500 strike (8.35 lakh contracts).
Maximum Call writing was observed at the 55,500 strike (with the addition of 69,480 contracts), followed by the 55,300 strike (55,530 contracts) and 55,400 strike (36,570 contracts). The maximum Call unwinding was seen at the 55,000 strike, which shed 2.38 lakh contracts, followed by the 54,500 and 56,000 strikes, which shed 97,950 and 94,860 contracts, respectively.
6) Bank Nifty Put Options Data
On the Put side, the maximum Put open interest was seen at the 55,000 strike (with 12.4 lakh contracts), which can act as a key support level for the index in the short term. This was followed by the 54,000 strike (7.39 lakh contracts) and the 56,000 strike (6.58 lakh contracts).
The maximum Put writing was placed at the 55,500 strike (which added 1.78 lakh contracts), followed by the 55,000 strike (1.75 lakh contracts) and 55,300 strike (1.19 lakh contracts). The maximum Put unwinding was seen at the 55,800 strike, which shed 15,900 contracts, followed by the 54,600 and 56,500 strikes, which shed 11,820 and 5,640 contracts, respectively.
7) Funds Flow (Rs crore)
8) Put-Call Ratio
The Nifty Put-Call ratio (PCR), which indicates the mood of the market, jumped to 1.14 on October 9, compared to 0.73 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.
9) India VIX
The Volatility Index, India VIX fell 5.89 percent to 14.37 after couple of days of rally but remained near elevated zone and also above all key moving averages, signalling caution for bulls. Falling below 14 may provide some comfort for bulls and further below 12 may bring major comfort for bulls.
The volatility index, India VIX, fell 5.89 percent to 14.37 after rising for a couple of sessions. However, it remained in the elevated zone and above all key moving averages, signalling continued caution for bulls. A fall below 14 may provide some relief to bulls, while a further decline below 12 could offer greater comfort and indicate easing market volatility.
10) Long Build-up (100 Stocks)
A long build-up was seen in 100 stocks. An increase in open interest (OI) and price indicates a build-up of long positions.
11) Long Unwinding (1 Stock)
1 stock saw a decline in open interest (OI) along with a fall in price, indicating long unwinding.
12) Short Build-up (26 Stocks)
26 stocks saw an increase in OI along with a fall in price, indicating a build-up of short positions.
13) Short-Covering (90 Stocks)
90 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.