Quote on F&O Expiry 24th July 2025 by Mr. Chandan Taparia, Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services Ltd
Below the Quote on F&O Expiry 24th July 2025 by Mr. Chandan Taparia, Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services Ltd
Nifty opened on a flattish note today but faced selling pressure throughout the session as it slipped below the crucial support of 25150. The index continued to grind lower intraday, weighed down by persistent selling and noticeable put unwinding, eventually closing below its 20-day EMA once again. For the week, the index traded within a 400-point range but struggled to sustain at higher levels. On the daily chart, Nifty has formed a bearish candle and also negated its recent sequence of higher highs, indicating emerging weakness. The lack of follow-up buying and sustained pressure at higher zones continue to dampen sentiment. Going ahead, it has to hold above 25000 zones, for a bounce towards 25250 than 25350 zones else a hold below the same could open the downside move towards 24900 then 24800 zones.
The FII long-short ratio is hovering around 15%, which is near its lower band indicating a cautious stance from foreign participants. This, coupled with consistent pressure at higher levels, continues to weigh on the index. Now it has to hold above 25000 zones, for a bounce towards 25250 than 25350 zones else a hold below the same could open the downside move towards 24900 then 24800 zones.
On option front, Maximum Call OI is at 25200 then 25500 strike while Maximum Put OI is at 25000 then 24500 strike. Call writing is seen at 25200 then 25100 strike while Put writing is seen at 25000 then 24800 strike. Option data suggests a broader trading range in between 24600 to 25600 zones while an immediate range between 24800 to 25300 levels.
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