Updated on 22 June 2026 @ 7.00 AM
Today’s Nifty Outlook
Bullish Above: 24,100
Bearish Below: 23,950
Expected Range: 23,900 – 24,300
Best Trade Today: Buy 24100 CE above 24,100
Nifty Levels Today: Support, Resistance, Option Chain & Trade Setup
Nifty closed at 24,013.10 and continues to hold above its 20 DMA, 34 DMA and 50 DMA, indicating that short-term momentum remains positive. However, the index is still trading below its 89 DMA and 200 DMA, suggesting that the broader trend remains under pressure.
The technical setup has improved significantly over the last few sessions. MACD remains firmly positive, RSI has climbed to 57.76 and DMI+ remains above DMI-, indicating buyers currently hold a slight edge.
As long as Nifty remains above 24,100, momentum may extend towards 24,300–24,450. A breakdown below 23,950 could trigger profit booking towards 23,850–23,700.
Today’s bias remains cautiously bullish with traders closely monitoring the 24,100 breakout zone.
Key Nifty Levels Today
| Level | Price |
|---|---|
| Support 1 | 23,928 |
| Support 2 | 23,842 |
| Pivot | 23,987 |
| Resistance 1 | 24,073 |
| Resistance 2 | 24,133 |
Chanakya View
👉 Above 24,100: Buy 24100 CE for targets of 24,250–24,450.
👉 Above 24,200: Fresh momentum buying may trigger a move toward 24,450–24,600.
👉 Below 23,950: Buy 24000 PE for targets of 23,850–23,700.
👉 Between 23,950–24,100: Expect consolidation and premium erosion.
Nifty Option Chain Strategy Today – 23 June Expiry
Today’s Options Trade Setup
| Instrument | Trade | Buy Zone | Target | Stop Loss |
| Nifty 24100 CE | Buy Above Breakout | Rs. 70 – 80 | Rs. 120 / 170 | Rs. 50 |
| Nifty 24000 PE | Buy Below Support | Rs. 70 – 85 | Rs. 120 / 180 | Rs. 50 |
| Nifty 24200 CE | Buy on Momentum | Rs. 40 – 50 | Rs. 80 / 120 | Rs. 28 |
Why This Trade?
• Nifty closed at 24,013.10 and remains above the 20 DMA, 34 DMA and 50 DMA.
• Short-term trend is bullish while medium-term and long-term trends remain bearish.
• MACD at 55.81 remains above signal line and continues to support bullish momentum.
• RSI at 57.76 indicates improving strength without entering overbought territory.
• Option chain shows the highest Put OI concentration near 24,000, creating a strong support base.
• Significant Call OI is visible around 24,200, making it the immediate resistance zone.
• ADX remains low at 18.56, indicating trend strength is still developing.
• A move above 24,100 could trigger short covering towards 24,300–24,450.
Support and Resistance
| Type | Levels |
| Immediate Support | 24,000 – 23,950 |
| Strong Support | 23,850 – 23,700 |
| Immediate Resistance | 24,100 – 24,200 |
| Strong Resistance | 24,300 – 24,450 |
Key Levels
| Level Type | Price |
| Pivot Point | 23,987 |
| Downside Trigger | 23,950 |
| Upside Trigger | 24,100 |
| Major Resistance | 24,200 |
| Strong Support | 24,000 |
▶ PCR Analysis Today
| Strike | PCR Interpretation |
| 23900 | Strong Put support visible (PCR 2.71) |
| 23950 | Strong support base (PCR 1.69) |
| 24000 | Major support zone (PCR 1.04) |
| 24050 | Call writers gaining control (PCR 0.52) |
| 24100 | Strong resistance zone (PCR 0.48) |
| 24150 | Aggressive Call writing visible (PCR 0.21) |
| 24200 | Major Call wall (PCR 0.19) |
Bias: Bullish above 24,100, bearish below 23,950.
▶ Max Pain & Execution Plan
Max Pain Today
| Metric | Level |
| Max Pain Zone | 24,000 |
Execution Plan
| Condition | Action |
| Above 24,100 | Buy 24100 CE |
| Above 24,200 | Buy 24200 CE |
| Below 23,950 | Buy 24000 PE |
| 23,950 – 24,100 | No Trade Zone |
▶ Technical View Today
| Indicator | Signal |
| Momentum | Bullish |
| RSI | 57.76 |
| ADX | 18.56 (Weak Trend Strength) |
| MACD | Positive |
| DMI | Bulls Slightly Ahead |
| ATR | 275.11 |
| Bollinger Bands | Near Upper Band |
| StochRSI | Neutral |
▶ Pro-Level Upgrade (What Big Players Do)
• Smart money is defending the 24,000 Put base aggressively.
• Fresh long positions are likely only above 24,100.
• Profit booking may emerge near the 24,200–24,300 Call writing zone.
• Traders should avoid aggressive shorts unless Nifty breaks below 23,950.
• Book partial profits near 24,300 and 24,450 resistance clusters.
• Volatility remains moderate, making breakout confirmation important before taking large positions.