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

Nifty Prediction Today – 20 August 2026

Nifty’s immediate trend remains bearish to cautious after seven consecutive declining sessions. The 24,000 strike is the most important support, while fresh Call writing at 24,100 and 24,200 may restrict recovery. A decisive break below 24,000 could extend the decline towards 23,950–23,800, whereas Nifty must sustain above 24,140–24,200 to generate a meaningful recovery.

Nifty Today at a Glance

Today’s Nifty Prediction

Nifty may initially consolidate between 24,000 and 24,150 as Put writers attempt to defend the psychological 24,000 level. However, the option chain shows heavy Call writing at 24,000, 24,100 and 24,200, indicating that traders continue to sell into recovery attempts.

The 24,000 Put holds open interest of 2,10,294 contracts, the highest among the supplied strikes, with an addition of 34,745 contracts. This establishes 24,000 as the immediate downside defence.

On the upside, the 24,200 Call carries open interest of 1,70,536 contracts, while the 24,100 Call has 1,51,765 contracts. These positions create a strong resistance belt between 24,100 and 24,200.

Market Probability

The options setup suggests that Nifty may defend 24,000 temporarily, but the upside remains capped unless Call writers begin covering their positions.

Bullish Scenario

Nifty’s first recovery signal will emerge above 24,100, but traders should wait for a sustained move above 24,140–24,150 before taking aggressive long positions.

Above 24,150, the index can test 24,200 and 24,268. A decisive breakout above 24,200 may trigger short covering in the 24,200 Call, opening the path towards 24,300.

A more meaningful trend improvement requires Nifty to reclaim 24,300–24,385. Until then, an upside move should be treated as a technical recovery within a weak structure rather than a confirmed trend reversal.

Bearish Scenario

A decisive fall below 24,000 would weaken the strongest immediate Put base and could trigger rapid unwinding by Put writers. The first downside targets would be 23,950 and 23,900, followed by 23,800.

Although the 23,950 Put carries 26,549 contracts of open interest with an addition of 14,890 contracts, it is substantially smaller than the Put base at 24,000. Therefore, a breakdown below 24,000 may increase volatility.

Traders should avoid anticipating the breakdown. The bearish trade becomes valid only after Nifty sustains below 24,000.

No Trade Zone

The 24,000–24,150 range should be treated as the no-trade zone. Both Call and Put positions are concentrated near 24,000–24,100, which may result in rapid intraday reversals.

Since the options expire on 25 August, premium decay will accelerate. Option buyers should enter only after a confirmed directional break.

Key Nifty Levels Today

Nifty Option Strategy

Bullish trade: Buy the 24,100 Call only after Nifty sustains above 24,150. Targets on the index are 24,200 and 24,268, with a stop-loss below 24,080.

Bearish trade: Buy the 24,000 Put only after Nifty sustains below 24,000. Targets are 23,900 and 23,800, with a stop-loss above 24,080.

Avoid fresh option buying within 24,000–24,150 because time decay and two-sided option writing may reduce returns.

Why This Trade?

The trade setup is based on the strongest option-chain battle. The 24,000 Put provides immediate support, while Call writers control 24,100–24,200. A confirmed break beyond this range can produce a more reliable directional move.

Final Verdict

Nifty remains bearish to cautious. Buy only above 24,150 for 24,200–24,268. Below 24,000, bearish momentum may extend towards 23,900–23,800.

Paresh Gordhandas View

Nifty is attempting to defend 24,000, but heavy Call writing shows that traders lack confidence in a sustained recovery. Avoid premature bottom-fishing. Let price confirm whether the 24,000 Put base survives before taking a directional position.