Trade Setup for September 24: Top 15 things to know before the opening bell

Fresh updates from the financial markets indicate that The Nifty 50 rebounded half a percent following a day of correction, aided by easing bearish momentum. That stated, the broader market structure stays weak, with the index trading well below all key moving averages. Compounding the wary sentiment, the US 10-year bond yield spiked to 5.1 percent—its highest level since July 2007—while oil price marks bounced back above $100 a barrel. Consequently, a consolidation phase with a negative bias is likely in the near term as long as the index trades below the 23,500–23,600 critical hurdle zone. As per specialists, immediate backing is noted at 23,300, followed by 23,100–23,000 as a crucial backing zone.

Here are 15 data points we have collated to help you spot profitable trades:

1) Key Marks For The Nifty 50 (23,447)

Resistance based on pivot points: 23,466, 23,494, and 23,538

Backing based on pivot points: 23,376, 23,349, and 23,304

Special Formation: On the daily timeframe, the Nifty 50 formed a bullish candle almost entirely within the previous day's red candle, pointing to a positive trend amid range-bound trading. That stated, the index stays below its 20-, 50-, 100-, and 200-day EMAs, signalling a weak broader structure. In the meantime, the RSI rose to 40.25—holding above the signal line though still below the 50 mark. The MACD inched elevated, moving closer to its signal line, while the red histogram bars have faded for the sixth consecutive session, signalling a potential easing of bearish momentum within a broader consolidation phase.

2) Key Marks For The Bank Nifty (56,549)

Resistance based on pivot points: 56,619, 56,717, and 56,875

Backing based on pivot points: 56,303, 56,205, and 56,047

Resistance based on Fibonacci retracement: 57,285, 59,261

Backing based on Fibonacci retracement: 55,749, 55,050

Special Formation: Bank Nifty additionally bounced back with 0.6 percent upside, forming a bullish candle alongside the previous day's red candle on the daily charts to indicate a positive move amid range-bound trading. The index closed above its 10-day EMA, though it remained below the 20-, 50-, 100-, and 200-day EMAs, signalling that bears are still in control of the trend. While momentum indicators point to weakening bearish pressure, this shift needs confirmation in subsequent sessions. The RSI rose to 46.25 following a positive crossover, and the MACD inched closer to its signal line as the red histogram bars continued to contract for the sixth consecutive session. 3) Nifty Call Options Data

According to the monthly options data, the maximum Call open interest was noted at the 23,500 strike (with 1.02 crore contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 23,800 strike (81.73 lakh contracts) and 23,400 strike (75.92 lakh contracts).

Maximum Call writing was observed at the 23,900 strike, which saw an addition of 28.73 lakh contracts, followed by the 23,600 and 23,550 strikes, which further noted 26.87 lakh and 24.91 lakh contracts, respectively. The maximum Call unwinding was noted at the 23,300 strike, which shed 11.06 lakh contracts, followed by the 23,350 and 23,200 strikes, which shed 7.28 lakh and 2.15 lakh contracts, respectively. 4) Nifty Put Options Data

On the Put side, the 23,000 strike holds the maximum Put open interest (with 1.26 crore contracts), which can act as a key backing level for the Nifty in the short term. It was followed by the 23,400 strike (1.15 crore contracts) and the 23,300 strike (92.1 lakh contracts).

The maximum Put writing was placed at the 23,400 strike, which saw an addition of 54.83 lakh contracts, followed by the 23,000 and 23,450 strikes, which further noted 31.59 lakh and 29.01 lakh contracts, respectively. The maximum Put unwinding was noted at the 23,800 strike, which shed 1.98 lakh contracts, followed by the 23,900 strike, which shed 72,540 contracts.

5) Bank Nifty Call Options Data

According to the monthly options data, the maximum Call open interest was noted at the 57,500 strike, with 19.7 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 58,000 strike (15.87 lakh contracts) and the 57,000 strike (12.53 lakh contracts).

Maximum Call writing was observed at the 57,500 strike (with the addition of 4.21 lakh contracts), followed by the 56,700 strike (1.31 lakh contracts) and 57,000 strike (1.27 lakh contracts). The maximum Call unwinding was noted at the 56,500 strike, which shed 93,480 contracts, followed by the 56,400 and 56,300 strikes, which shed 93,450 and 85,530 contracts, respectively.

6) Bank Nifty Put Options Data

On the Put side, the 57,500 strike holds the maximum Put open interest (with 13.14 lakh contracts), which can act as a key level for the index in the short term. This was followed by the 56,000 strike (10.35 lakh contracts) and the 56,500 strike (9.69 lakh contracts).

The maximum Put writing was placed at the 56,600 strike (which further noted 2.39 lakh contracts), followed by the 56,000 strike (1.81 lakh contracts) and 56,500 strike (1.59 lakh contracts). The maximum Put unwinding was noted at the 55,500 strike, which shed 1.34 lakh contracts, followed by the 57,800 and 55,200 strikes which shed 15,840 and 12,750 contracts, respectively. 7) Funds Flow (Rs crore) 8) Put-Call Ratio

The Nifty Put-Call ratio (PCR), which indicates the mood of the market, rose to 1.03 on September 23, compared to 0.94 in previous session.

The increasing PCR, or being elevated 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 elevated than selling in Puts, reflecting a bearish mood in the market. 9) India VIX

The India VIX, which measures anticipated market volatility, eased 5.93 percent to 10.34—its lowest closing level since January 7, 2026. The volatility index extended its southward journey for the sixth consecutive session, reflecting growing comfort among bulls and improved market stability.

10) Long Build-up (100 Stocks)

A long build-up was noted in 100 stocks. An gain in open interest (OI) and price indicates a build-up of long positions.

11) Long Unwinding (14 Stocks)

14 stocks saw a slide in open interest (OI) along with a decline in price, indicating long unwinding.

12) Short Build-up (47 Stocks)

47 stocks saw an gain in OI along with a decline in price, indicating a build-up of short positions.

13) Short-Covering (55 Stocks)

55 stocks saw short-covering, meaning a decrease in OI, along with a price gain.

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 firms where derivative contracts cross 95 percent of the market-wide position limit.

Stocks further noted to F&O ban: Nil

Stocks retained in F&O ban: Kaynes Technology India, LIC Housing Finance, Manappuram Finance, SAIL

Stocks removed from F&O ban: Nil