Nifty 50 (24,894) appreciated 1 per cent and Nifty Bank (55,589) rallied 2.2 per cent last week. The futures and options data of the indices too give a positive implication. Here is an analysis:

Nifty 50

Nifty futures (October) (25,007) was up 0.8 per cent. After declining early last week, the contract rebounded sharply over the last two sessions after finding support at 24,750.

Given the strong rebound, the probability of a rally in the forthcoming sessions has increased. The nearest potential resistance is 25,180 where the 21-day moving average coincides. If this level is breached, Nifty futures can move further up to 25,500.

Substantiating the bullish view, the October futures has seen fresh long build-up. As the contract moved up last week, the open interest increased from 98 lakh

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