Option data with a date of May 8, 2025 clearly shows that the Nifty can remain range-bound but unstable in the coming days.
Traders are currently most active at the lower level of 24,000 and at the upper level of 25,000.
Put writers are active on these levels, indicating that if the market goes down, they can defend them.
Because the call writers have created a huge position above Rs 24,800 – Rs 25,000.
Options data indicates that the Nifty is currently trading in a tight range. The support is Rs 24,000 – Rs 24,300 and resistance Rs 24,800 – Rs 25,000.
Unless the Nifty rupees closes above 24,400, the hope above will be limited. If the rupee breaks 24,000, the reduction can be up to Rs 23,800–23,700.
Work only by looking at the market status and attitude in this unstable environment. IV percentile is 82% – indicating that major movements are possible in the coming days. (Note: The information provided here is provided only for the purpose of information, it is important to mention here that the investment in the market is subject to the risks of the market. So always consult an expert before investing.)
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