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Below the Quote on F&O Expiry shared by Mr. Chandan Taparia, Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services Ltd

Nifty opened on a flattish note today and witnessed buying interest in the first half, pushing the index towards the 24900 zone from an intraday low of 24613. However, in the second half, some profit booking emerged from higher levels, leading to volatile swings. The index eventually closed near the 24750 mark, with gains of over 100 points. On the daily chart, it formed a small-bodied bullish candle, and continues to maintain the pattern of higher lows, indicating buying on dips. For the week, Nifty traded in a tight range of 400 points, between 24500 and 24900 and remained volatile within this band. On the weekly chart, it formed a small-bodied candle with wicks on both sides, reflecting selling pressure at the upper end of the range but also showing that support is intact at lower levels, where bulls continue to defend the zone. The index remains in a consolidation phase, and a decisive move above 24,900–25,000 or below 24,500 will likely set the tone for the next directional breakout.

The FIIs long-short ratio is hovering near 20%. Now it has to hold above 24700 zones for an up move towards 24900 then 25100 levels while on the downside support is seen at 24650 then 24500 zones.

On option front, Maximum Call OI is at 25000 then 26000 strike while Maximum Put OI is at 24700 then 23500 strike. Call writing is seen at 26000 then 24800 strike while Put writing is seen at 24700 then 24800 strike. Option data suggests a broader trading range in between 24300 to 25300 zones while an immediate range between 24600 to 25000 levels.

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