Nifty Prediction Today: Target, Stop Loss, Support, Resistance & Option Chain Analysis

Nifty Prediction Today: Call Writing Signals Caution Near 24,200

Today’s Nifty at a Glance

Nifty closed at 24,090.85, below its pivot point and several important moving averages. Short-term and long-term trends are bearish, although the medium-term trend remains positive. The option chain shows aggressive Call writing and substantial Put unwinding at higher strikes, suggesting that recovery attempts may face resistance.

Nifty Prediction Today

Nifty may witness a volatile session with a negative underlying bias. The index is trading close to its lower Bollinger Band of 23,997, while Stochastic, Williams %R and StochRSI indicate oversold conditions. Therefore, a technical rebound is possible, but it must cross 24,160 to gain strength.

Until Nifty sustains above 24,160–24,200, traders should treat rallies as opportunities to reduce long positions or initiate controlled short trades.

Market Probability

MACD is negative, with the histogram at -39.76. DMI Minus at 28.12 is above DMI Plus at 17.54, confirming seller dominance. However, ADX at 14.29 shows limited trend strength, increasing the possibility of sharp intraday reversals.

Bullish Scenario

A sustained move above the pivot point of 24,160 can initiate short covering towards 24,200–24,229. Above 24,229, the next targets are 24,287 and 24,366.

A stronger reversal will be confirmed only above 24,266–24,269, where the 34-day SMA and 20-day EMA are positioned. Unless this zone is crossed decisively, the broader recovery may remain restricted.

Bearish Scenario

A breakdown below 24,080 can push Nifty towards 24,022 and the psychological support of 24,000. If 23,997 fails to hold, weakness may extend towards 23,953 and 23,900.

The option chain supports this cautious view because Put open interest declined sharply at 24,150, 24,200, 24,250 and 24,300. This shows that Put writers are withdrawing support from higher levels.

No Trade Zone

The area between 24,080 and 24,160 should be treated as the no-trade zone. Movements within this range may remain uncertain due to oversold technical indicators and weak directional strength.

Wait for a confirmed breakout above 24,160 or a breakdown below 24,080 before initiating directional trades.

Key Nifty Levels Today

Nifty Option Strategy

For the 1 September 2026 expiry, traders may consider a Bear Put Spread only below 24,080:

Premiums can change sharply after the opening; therefore, traders should recalculate the actual debit before execution.

Why This Trade?

Heavy Call open interest is visible at 24,200 and 24,300, with substantial fresh Call additions. This creates an immediate resistance wall. On the Put side, 24,000 has the strongest visible base, followed by 24,100.

The Bear Put Spread limits premium outflow and benefits if Nifty moves towards 24,000, while keeping maximum risk restricted to the net premium paid.

Final Verdict

Nifty remains weak below 24,160. Sell only after a confirmed fall below 24,080 for targets of 24,022 and 23,997. Buying should be considered only above 24,160, with stronger confirmation above 24,229.

Paresh Gordhandas View

The option chain indicates resistance at 24,200–24,300 and dependable support near 24,000. Oversold indicators may produce a rebound, but heavy Call writing limits the immediate upside. Traders should avoid positions inside 24,080–24,160 and follow the breakout direction with strict stop-losses