🔍 Open Interest-Based Market Movement & Trade Strategy Recap
On the monthly expiry day, Nifty50 showcased a well-defined shift in intraday sentiment driven by dynamic changes in Open Interest (OI). Here's a detailed breakdown of the resistance and support levels observed during the trading session and how traders could have reacted to each change:
🕙 10:04 AM
🔻 Resistance shifted down: 25,000 ➝ 24,700
📍 Nifty Spot: 24,661
➡️ Sentiment: Bearish
📌 Action: Short near 24,700 | SL: 24,750 | Target: 24,600
🕥 10:52 AM
🔺 Resistance shifted up: 24,700 ➝ 25,000
📍 Nifty Spot: 24,721
➡️ Sentiment: Bullish Recovery Begins
📌 Action: Go long on dip to 24,700 | SL: 24,660 | Target: 24,850–25,000
🕚 11:04 AM
🔺 Support shifted up: 24,600 ➝ 24,700
📍 Nifty Spot: 24,758
➡️ Sentiment: Bullish Strength Confirmed
📌 Action: Buy dips to 24,700–24,720 | SL: 24,660 | Target: 24,900
🕧 12:53 PM
🔺 Support shifted up: 24,700 ➝ 24,800
📍 Nifty Spot: 24,878
➡️ Sentiment: Strong Bullish Momentum
📌 Action: Add longs | SL: 24,780 | Target: 24,950–25,000
🕑 2:05 PM
🔺 Support shifted up: 24,800 ➝ 24,900
📍 Nifty Spot: 24,927
➡️ Sentiment: Trending Upward
📌 Action: Ride long positions | SL: 24,880 | Target: 25,050
🕝 2:35 PM
🔻 Resistance shifted down: 25,000 ➝ 24,900
📍 Nifty Spot: 24,870
➡️ Sentiment: Intraday Top Likely In Place
📌 Action: Book profits on longs | Short scalp near 24,900 | SL: 24,930 | Target: 24,800
| Time | Change Type | Market Sentiment | Strategy |
|---|---|---|---|
| 10:04 AM | Resistance ↓ | Bearish | Short near 24,700 |
| 10:52 AM | Resistance ↑ | Bullish | Long near 24,700 |
| 11:04 AM | Support ↑ | More Bullish | Buy dips 24,700–24,720 |
| 12:53 PM | Support ↑ | Strong Bullish | Add longs, SL trail to 24,780 |
| 2:05 PM | Support ↑ | Trend Strengthen | Ride long, target 25,000 |
| 2:35 PM | Resistance ↓ | Weakness / Top | Book profit / scalp short |
✅ Final Expiry Notes:
- Day High: Around 24,950 (resistance tested)
- Day Low: Near 24,600 (early dip bought)
- Closing Bias: Mildly bearish (profit booking)
- Expiry Close Range: 24,850–24,870 (approx.)
📈 Trade Lessons from Today:
- 📊 OI shifts lead the trend – Clear trade setups.
- 🧠 Support shifts = bullish confirmation
- 🛑 Late resistance drop = reversal alert
- 🔄 Dynamic strategy beats static view
🎯 Market Friend's View Ahead:
As long as 24,800 holds as support, bulls may attempt a fresh breakout in the next session.
Watch for renewed OI buildup above 25,000 to confirm fresh upside momentum.
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