Will Nifty Sustain Its Recovery With Strong Put Writing at 25,500?

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Nifty option chain analysis 23 February 2026, 26000 call 25500 put open interest, PCR 0.87, max pain 25600, VWAP range 25395 to 25730.

Will Nifty Sustain Its Recovery With Strong Put Writing at 25,500?

Market Recap

After a negative opening, Nifty staged a gradual recovery in the first half and touched the 25,660 mark. The index then traded in a narrow band between 25,530 and 25,650 before closing higher by 0.46 percent.

Nifty Midcap 100 outperformed with a 0.48 percent gain, indicating selective broader market participation.

Intraday structure reflects buy-on-dips behavior with controlled volatility.

Sector and Institutional Flow

  • Top Performers: PSU Bank, Metal
  • Lagging Sectors: IT, Media
  • FIIs: Net sellers ₹934.61 crore
  • DIIs: Net buyers ₹2,637.15 crore

Domestic institutional buying absorbed foreign selling pressure, supporting index stability.

FII Index Futures Positioning

Index Net Contracts
Nifty 928
Bank Nifty 1,119
Fin Nifty -26
Midcap Nifty 2,136
Nifty Next 50 51

Positive net contracts in key indices indicate selective long exposure in futures positioning.

Option Chain Analysis

  • Major Call Open Interest: 26,000
  • Major Put Open Interest: 25,500
  • Put-Call Ratio: 0.87
  • Max Pain: 25,600
  • VWAP Trading Range: 25,395 – 25,730

Higher Put writing combined with Call unwinding suggests a bullish undertone. Writers appear confident about defending the 25,500 zone.

Max Pain at 25,600 aligns closely with the current consolidation zone, indicating potential expiry magnet behavior.

A move above 25,730 may open further upside, while breakdown below 25,395 could invite short-term pressure.

👉 Nifty Tip | BankNifty Tip

Investor Takeaway

Option chain positioning reflects a cautiously bullish bias with strong support at 25,500 and resistance near 26,000. Institutional flows and Put writing suggest stability unless key VWAP support breaks.

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SEBI Disclaimer: The information provided in this post is for informational purposes only and should not be construed as investment advice. Readers must perform their own due diligence and consult a registered investment advisor before making any investment decisions. The views expressed are general in nature and may not suit individual investment objectives or financial situations. Written by Indian-Share-Tips.com, which is a SEBI Registered Advisory Services

Nifty option chain 23 February 2026, 26000 call 25500 put analysis, PCR 0.87 max pain 25600, VWAP range 25395 25730, market recap India

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