Nifty staged a strong recovery after opening with a gap-up and maintained buying interest throughout the trading session. The benchmark index closed higher by 0.96%, while the Nifty Midcap 100 outperformed with a gain of 1.11%. The latest options data suggests that the 24,000 level has emerged as the most significant support zone, with traders positioning for a constructive market setup ahead of the next trading session.

• Nifty closed higher by 0.96%.
• Nifty Midcap 100 gained 1.11%.
• Top Performing Sectors: Information Technology and Media.
• Weakest Performing Sectors: Oil & Gas and PSU Banks.

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• Foreign Institutional Investors (FIIs): Net Sellers of ₹1,688.23 crore.
• Domestic Institutional Investors (DIIs): Net Buyers of ₹2,329.14 crore.

Despite continued FII selling, sustained domestic institutional buying continued to provide support to the market.

• Nifty Futures: +2,388 Contracts
• Bank Nifty Futures: +1,375 Contracts
• Fin Nifty Futures: -7 Contracts
• Midcap Nifty Futures: +216 Contracts
• Nifty Next 50 Futures: -50 Contracts

The increase in Nifty and Bank Nifty futures positions indicates improving institutional participation in index derivatives.

Indicator	Reading
Highest Call Open Interest	24,200
Highest Put Open Interest	24,000
Put Call Ratio (PCR)	1.12
Max Pain	24,000
Expected VWAP Range	23,920 – 24,060

The latest options positioning reflects a constructive market structure.

• Heavy Put writing at 24,000 indicates traders are treating this zone as an important support level.
• Call Open Interest is concentrated at 24,200, making it the first important resistance zone.
• A PCR of 1.12 generally reflects stronger Put positioning than Calls, indicating a positive market bias.
• Higher Put writing along with Call unwinding continues to support a bullish undertone.
• Max Pain remains at 24,000, highlighting this level as a key equilibrium point for option writers.

• Immediate Support: 24,000
• Expected Trading Zone: 23,920–24,060
• Immediate Resistance: 24,200

A sustained move above 24,200 could improve short-term momentum, while holding above 24,000 would keep the bullish structure intact.

Investor Takeaway

Indian-Share-Tips.com Nifty Expert Gulshan Khera, CFP®, who is also a SEBI Registered Investment Adviser, observes that the combination of higher Put writing, Call unwinding, a PCR above 1.0 and continued domestic institutional buying points towards improving market sentiment. However, traders should continue monitoring institutional flows, global developments and price action around the 24,000–24,200 zone before initiating fresh positions.

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Written by Indian-Share-Tips.com, which is a SEBI Registered Advisory Services.

Disclaimer: This article is for educational and informational purposes only and should not be construed as investment advice or a recommendation to buy or sell any security. Market conditions can change rapidly. Investors should conduct their own research or consult a SEBI Registered Investment Adviser before making investment decisions.