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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 but faced selling pressure from the start. After hitting a high near 25200, the index slipped sharply below the 25000 mark and found support at its 20-day EMA. A brief bounce in the last hour trimmed losses, but the index still ended with a cut of around 250 points, forming a big bearish candle on the daily chart. For the week, Nifty traded in a narrow 250-point range for the first three sessions. However, on expiry day, sharp intraday swings broke the consolidation, leading to a strong bearish weekly candle. This reflects rejection from higher levels and rising pressure near the 25000 zone. A move below 24700 may trigger further downside, while bulls need to reclaim 25000 to regain momentum.

The FIIs long-short ratio is hovering near 22% but index witnessed selling pressure from higher levels as follow up buying missing. Now till it holds below 25000 zones, profit booking could be seen towards 24750 then 24600 zones while hurdles can be seen at 25000 then 25100 zones.
On option front, Maximum Call OI is at 25200 then 25500 strike while Maximum Put OI is at 24000 then 24500 strike. Call writing is seen at 25100 then 25000 strike while Put writing is seen at 24900 then 24000 strike. Option data suggests a broader trading range in between 24400 to 25400 zones while an immediate range between 24600 to 25100 levels.

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