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Below the Quote on Market Expiry 21st August 2025 by  Chandan Taparia Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services Ltd 

Nifty opened on a positive note today around the 25140 zone and initially slipped towards 25050 in the first half hour. However, bulls defended that support and triggered a sharp rebound, taking the index to the day’s high in the next hour. Post the recovery, the index traded sideways for most of the session, hovering near the 25100 mark. On the weekly chart, Nifty has given an inside-bar breakout and has started forming higher highs, suggesting strengthening momentum. On the daily scale, the index has been forming a sequence of higher highs and higher lows for the last six sessions, clearly indicating a bullish undertone. Earlier in the week, Nifty opened gap-up on account of positive sentiment around GST reforms and managed to hold on to those gains, further reinforcing the uptrend. Going forward, as long as Nifty sustains above the 25000 mark, the momentum is likely to extend towards 25,200 and 25,300. On the downside, supports are gradually shifting higher and are now placed at 24900 and 24800 zones.

The FIIs long-short ratio is hovering near 9-10% from last few sessions and index is witnessing support based buying from lower levels. Now Nifty needs to hold above the 25000 zone to extend the move towards 25200 and then 25300.

On option front, Maximum Call OI is at 25500 then 25200 strike while Maximum Put OI is at 25000 then 24500 strike. Call writing is seen at 25600 then 25100 strike while Put writing is seen at 25100 then 25000 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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