Updated on 12 March 2026 @ 9.00 pm
Nifty – Options Chain for 13 March 2026
Nifty continues to remain under heavy selling pressure as the index closed at 23,639.15, declining 0.95% in the last session and losing nearly 4.55% over the past week. The broader technical structure has clearly weakened with both short-term and medium-term trends turning bearish, while only the long-term trend remains marginally positive.
Technically, Nifty is trading far below its key moving averages including the 20DMA at 25,059 and the 50DMA at 25,417, reflecting strong near-term weakness. The index is also trading near the lower Bollinger Band placed at 23,683, indicating that the market is approaching a crucial support zone but the prevailing momentum still favors sellers.
Momentum indicators strongly support the bearish outlook. RSI has slipped to 28.02, signalling extremely weak momentum and strong selling pressure. MACD remains deeply negative with a widening histogram, confirming sustained downside momentum. Stochastic indicators and Williams %R are also deep in oversold territory, reflecting continued bearish dominance.
Directional indicators further strengthen the negative bias. The DMI shows –DI at 47.97 significantly above +DI at 15.20, confirming that sellers are firmly controlling the trend. ADX at 30.50 indicates that the current downtrend has strong directional strength and may continue if key support levels break.
From a price-structure perspective, Nifty is hovering close to the pivot level of 23,676 and the key support zone around 23,500. A decisive breakdown below this level could trigger further selling pressure toward the next support levels of 23,399 and 23,122.
Options Strategy (Preferred Trade – Bearish Momentum)
Strategy | Level
Instrument | Nifty 23500 PE
Buy Zone | Rs. 180 – Rs. 210
Stop Loss | Rs. 120
Target 1 | Rs. 300
Target 2 | Rs. 420
Why 23500 PE?
The 23,500 strike is positioned near the key breakdown zone and also carries very high open interest and volume activity in the option chain. If Nifty breaks below the 23,500 support level, the index could quickly slide toward 23,400–23,100 levels, which would lead to rapid premium expansion in the 23,500 Put option.
Technical Levels
Level | Price
Immediate Resistance | 23,796
Major Resistance | 23,953
Immediate Support | 23,519
Strong Support | 23,399
Strategy Outlook
With Nifty trading well below key moving averages, extremely weak momentum indicators and sellers dominating directional indicators, the index appears vulnerable to further downside pressure. A sustained move below the 23,500 support zone could trigger fresh selling momentum toward 23,400–23,100 levels. In such a scenario, the 23,500 PE offers the best risk-reward setup for intraday traders.
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