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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 positive note today and traded with volatile swings within a range for most of the session. The index slowly drifted lower until the final hour, showing a lack of momentum. However, in the last hour, bulls made a strong comeback as sharp buying emerged, lifting the index by over 150 points to close near the 24800 zone. While some selling pressure was seen at higher levels, buying interest at lower levels remained intact. For the week, Nifty faced selling pressure near the upper band of the range around 25000, leading to profit booking. At the same time, the support zone near 24650 held firm, and the index saw buying from that area. On the weekly chart, Nifty formed a small-bodied candle with wicks on both sides, indicating selling at higher levels but support-based buying at lower zones. The index continues to consolidate within a range and a clear breakout above 25000 or breakdown below 24444 will likely decide the next directional move.

The FIIs long-short ratio is hovering near 30%. Now it has to hold above 24800 zones for an up move towards 25000 then 25200 levels while on the downside support is seen at 24750 then 24600 zones.

On option front, Maximum Call OI is at 25000 then 25500 strike while Maximum Put OI is at 24800 then 24500 strike. Call writing is seen at 24800 then 25000 strike while Put writing is seen at 24800 then 24700 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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