Updated on 1 June 2026 @ 7.00 AM
Nifty Option Trade Strategy Today – 9 June Expiry
Today’s Options Trade Setup
| Instrument | Trade | Buy Zone | Target | Stop Loss |
|---|---|---|---|---|
| Nifty 23700 CE | Buy | Rs. 260 – 280 | Rs. 340 / 420 | Rs. 210 |
| Nifty 23800 CE | Buy on Breakout | Rs. 210 – 235 | Rs. 300 / 380 | Rs. 165 |
| Nifty 23600 PE | Buy Below Breakdown | Rs. 175 – 195 | Rs. 260 / 340 | Rs. 135 |
Execution Plan
| Condition | Action |
| Above 23700 | Buy 23700 CE |
| Sustains above 23800 | Buy 23800 CE |
| Below 23600 | Buy 23600 PE |
| 23600 – 23800 | High Volatility No Trade Zone |
Why This Strategy?
Nifty closed at 23,547.75 and continues to trade under a bearish short, medium and long-term trend structure despite signs of stabilization emerging near recent lows.
The index remains below its 20-DMA, 34-DMA, 89-DMA and 200-DMA, indicating that the broader market structure remains weak. However, the MACD histogram has turned marginally positive, suggesting that downside momentum is slowing.
RSI at 43.37 remains below the neutral 50 mark while DMI− at 35.86 continues to dominate DMI+, confirming that sellers still retain control.
Option chain positioning indicates aggressive Put accumulation at 23600–23700 strikes while significant Call writing is visible at 23800–23900 levels, creating a clearly defined trading range.
Support and Resistance
| Type | Levels |
| Immediate Support | 23500 – 23354 |
| Strong Support | 23160 – 22642 |
| Immediate Resistance | 23678 – 23872 |
| Strong Resistance | 24196 – 24715 |
Key Levels
| Level Type | Price |
| Pivot Zone | 23678 |
| Downside Trigger | 23600 |
| Upside Trigger | 23700 |
| Major Resistance | 23800 |
| Strong Support | 23500 |
PCR Analysis Today
| Strike | PCR Interpretation |
| 23600 | Strong Put accumulation support |
| 23650 | Highest PCR, strong bullish support |
| 23700 | Major support base |
| 23750 | Neutral positioning |
| 23800 | Heavy Call writing resistance |
| 23900 | Strong upside hurdle |
Bias: Bullish above 23700, weakness below 23600
Max Pain Today
| Metric | Level |
| Max Pain Zone | 23700 – 23800 |
Intraday Strategy
| Scenario | Expectation | Trade Strategy |
| Above 23700 | Rally toward 23800 / 24196 | CE Buy |
| Above 23800 | Momentum expansion likely | Aggressive CE Buy |
| Below 23600 | Weakness toward 23500 / 23354 | PE Buy |
| 23600 – 23800 | Sideways premium decay | Avoid aggressive buying |
Technical View Today
| Indicator | Signal |
| Momentum | Bearish but stabilizing |
| ADX | 15.96, weak trend |
| MACD | Improving |
| RSI | 43.37, weak |
| Moving Averages | Bearish structure |
| StochRSI | Deep oversold |
| ATR | 309.20, elevated volatility |
| Bollinger Bands | Trading near lower half |
Trading Meaning
Nifty remains under pressure after a prolonged corrective phase but signs of stabilization are beginning to emerge near the 23,500 zone.
The positive MACD histogram and oversold StochRSI indicate that selling intensity is reducing. However, buyers still need to reclaim the 23,700–23,800 zone to trigger a meaningful recovery.
The 23,600 strike has emerged as a critical support level due to strong Put accumulation, while 23,800–23,900 remains the primary resistance cluster for the current weekly expiry.
Pro-Level Upgrade
Institutional traders appear to be defending the 23,600–23,700 Put base aggressively, suggesting that downside risk may remain limited unless fresh negative triggers emerge.
However, substantial Call writing at 23,800 and 23,900 indicates that smart money is still cautious about a strong upside breakout.
Professional traders are likely to wait for a decisive move above 23,800 before deploying aggressive long positions. Until then, option writers may continue benefiting from time decay inside the 23,600–23,800 range.
Final Nifty Outlook Today
👉 Above 23,700: Rally may extend toward 23,800–24,196
👉 Above 23,800: Fresh momentum may emerge toward higher resistance levels
👉 Below 23,600: Weakness may extend toward 23,500–23,354
👉 Between 23,600–23,800: Avoid overtrading; premium decay highly likely
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