Nifty analysis for 5 jan 2026

NIFTY Intraday OI Analysis & Price Action Outlook (Weekly Expiry)

Market Overview

NIFTY is trading near 26330 with a gain of around 0.70%, showing strong bullish momentum. Both price action and options open interest data are aligned in favor of bulls for intraday trading.

Price Action Analysis (Candlestick-Based)

On the 1-hour chart, NIFTY has formed a clear Higher High – Higher Low structure.

Key Observations:

Strong bullish rally from 25950 to 26335

Breakout above previous resistance at 26236

Bullish candles with small wicks indicate buying strength

No major rejection near highs, suggesting continuation

Market Structure:

➡️ Bullish Trend (Continuation Phase)

Open Interest (OI) Analysis – Weekly Expiry

Overall OI Data

PCR: 1.64 (Bullish)

Total Put OI: 1.34 Cr

Total Call OI: 88.6 L

High PCR combined with higher Put OI clearly indicates bullish sentiment in the market.

Change in OI Interpretation

Significant Put OI addition at 26300

Call OI reduction near current price

Indicates short covering and fresh long positions

➡️ This OI behavior supports further upside.

Major Support & Resistance Levels (OI + Chart)

Strong Support Zones

26300 – Highest Put OI, strong intraday base

26236 – 26200 – Breakout retest zone

26118 – Demand area from price action

Major Resistance Zones

26400 – Highest Call OI

26450 – Next supply area

Best Intraday Trade Setup (Low Risk)

Buy on Dip Strategy

Buy Zone: 26300 – 26290

Stop Loss: 26270

Targets:

Target 1: 26360

Target 2: 26400

Breakout Strategy

Buy Above: 26350 (strong candle confirmation)

Stop Loss: 26310

Targets: 26400 – 26440

Shorts are recommended only if 26300 breaks decisively.

Intraday Market Sentiment (Based on OI)

Sentiment

Probability

Bullish

65%

Bearish

15%

Sideways

20%

Final Verdict

Trend remains bullish

26300 is the most important intraday level

Strategy: Buy on dips above support

Upside target remains 26400 unless support breaks

Disclaimer

This analysis is for educational purposes only. Always use proper risk management while trading.


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