Nifty Option Chain Strategy Today (28 April Expiry)
| Trade |
Buy Zone |
Target |
Stop Loss |
| Nifty 22700 CE Buy |
Rs. 325 – 340 |
Rs. 430 / 500 |
Rs. 270 |
| Nifty 22600 PE Buy |
Rs. 230 – 245 |
Rs. 320 / 380 |
Rs. 175 |
👉 Execution Plan:
• Buy 22700 CE only if Nifty sustains above 22740–22770
• Add on strength if price crosses 22800 decisively
• Buy 22600 PE only if Nifty slips below 22620–22590
• Avoid aggressive trades in the 22630–22740 middle zone
Why This Strategy? (Simple Reasoning)
| Factor |
Reading |
Interpretation |
| Last Close |
22679.40 |
Market closed weak-to-neutral after pressure phase |
| Short Term Trend |
Bearish |
Near-term pressure remains |
| Medium Term Trend |
Bearish |
Pullbacks may face selling |
| Long Term Trend |
Bullish |
Bigger structure still positive |
| RSI |
37.08 |
Weak momentum, near oversold zone |
| Williams %R |
-80.37 |
Bounce chances can emerge |
| MACD |
Negative |
Bearish momentum still active |
| ADX |
41.00 |
Trend strength remains strong |
| ATR |
459.79 |
Volatility can stay high |
👉 Conclusion:
Nifty remains technically weak, but the index is also close to an oversold recovery zone.
So strategy should be CE Buy on breakout / PE Buy on failed bounce.
Nifty Support and Resistance from Option Chain
| Type |
Levels |
| Immediate Support |
22700 – 22650 |
| Strong Support |
22600 – 22550 |
| Immediate Resistance |
22750 – 22800 |
| Strong Resistance |
22850 – 22900 |
👉 22600 → Important Put support
👉 22800 → Key Call hurdle
Nifty PCR Analysis Today
| Strike |
PCR-OI |
Interpretation |
| 22600 |
1.42 |
Strong support zone |
| 22650 |
1.70 |
Very strong support |
| 22700 |
0.98 |
Neutral zone |
| 22750 |
0.98 |
Balanced zone |
| 22800 |
0.70 |
Resistance zone |
| 22850 |
0.66 |
Upside capped |
| 22900 |
0.59 |
Stronger call pressure |
👉 Interpretation:
• Stronger support is visible near 22600–22650
• Higher strikes show clear call-side pressure above 22800
• Structure = bounce possible, but upside not fully free
👉 Bias: Bearish-to-neutral with rebound scope
Nifty Max Pain Today
| Metric |
Level |
| Max Pain Zone |
22700 – 22800 |
👉 Price may initially rotate in this band
👉 Above 22800 → short covering possible
👉 Below 22620 → weakness can expand quickly
Nifty Intraday Strategy (Option Chain Based)
| Item |
View |
| Strategy |
CE Buy on breakout / PE Buy on rejection |
| Market Structure |
Weak trend with bounceback risk |
| Best Upside Trigger |
22740 – 22800 |
| Best Downside Trigger |
22620 – 22590 |
| No Trade Zone |
22630 – 22740 |
• Oversold market can bounce sharply
• But broader trend is still under pressure
• Best trades are likely only near 22750 breakout or 22620 breakdown
Pivot Levels (Key Reference)
| Level Type |
Value |
| Immediate Resistance |
22874 |
| Pivot |
22746 |
| Immediate Support |
22552 |
| Strong Support |
22424 |
Pro-Level Upgrade (What Big Players Do)
| Pro Setup |
View |
| Bias |
Bounce First, Then Confirm |
| Setup |
22700 CE Buy / 22600 PE Buy |
| Key Trigger |
22750 upside / 22620 downside |
| Risk |
ATR ~ 460 → expect fast swings |
Smart Money Insight
| Observation |
Meaning |
| Strong PCR at 22600–22650 |
Put writers defending lower zone |
| PCR drops sharply above 22800 |
Call writers still capping upside |
| Price below major moving averages |
Trend traders remain cautious |
| Strong ADX with negative MACD |
Trend is weak, but reversal attempts can be sharp |
👉 Pro Insight:
Best trade is not in the middle —
It is either above 22750 or below 22620.
Final Trading View
| Item |
View |
| Trend |
Bearish |
| Option Chain Bias |
Support below, resistance above |
| Best Bullish Trigger |
Above 22750–22800 |
| Best Bearish Trigger |
Below 22620 |
| Trading Style |
Trade only confirmed move |
Nifty remains technically weak, but today’s setup allows bounce trading because the market is near oversold territory and option chain shows support near lower strikes.
👉 Key takeaway:
• 22750 = upside trigger
• 22620 = downside trigger
• Trade only confirmed move
• Avoid random entries in between
👉 Expected Day Structure: Volatile with bounceback risk
