NIFTY50
Max call OI:23,000
Max put OI:22,000
(Ten strikes to ATM, 24 March expiry)
The GIFT NIFTY futures indicate a sharp gap-up opening on Tuesday morning after President Trump announced a ceasefire in the ongoing conflict.
Following the announcement, the crude oil prices slumped below $100 per barrel after hitting an intraday high of $114 per barrel. Consequently, the US markets also closed on average 1% higher across the board.
On the technical front, the NIFTY50 is expected to open above 23,000 levels. For the momentum to remain intact, the index should close above the 23,000 levels before it decides on the further direction.
On the options data front, the 22,000 puts hold the highest open interest for today’s expiry, indicating strong support. On the flip side, the 23,000 calls have the highest open interest, indicating strong resistance that will likely be breached at the opening on Tuesday.
Expiry outlook
Bullish outlook: Traders with bullish sentiment can execute a long call strategy by buying 23,000 calls. The strategy would turn profitable after the index moves above 23,042.
Bearish outlook: Traders with a bearish outlook can execute a long put strategy by buying a put strike of 23,000. The strategy would turn profitable after the index moves below the 22445 level.
To access a specially curated smartlist of the most traded and active stocks, as well as the OI gainers and losers, simply visit: