Updated on 5 June 2026 @ 6.300 AM
Nifty Option Trade Strategy Today – 9 June Expiry
Today’s Options Trade Setup
| Instrument | Trade | Buy Zone | Target | Stop Loss |
|---|---|---|---|---|
| Nifty 23500 PE | Buy | Rs. 140 – 150 | Rs. 210 / 280 | Rs. 105 |
| Nifty 23400 PE | Buy on Breakdown | Rs. 100 – 115 | Rs. 170 / 240 | Rs. 75 |
| Nifty 23600 CE | Buy Above Breakout | Rs. 190 – 205 | Rs. 280 / 360 | Rs. 145 |
Execution Plan
| Condition | Action |
|---|---|
| Below 23500 | Buy 23500 PE |
| Below 23400 | Aggressive 23400 PE Buy |
| Above 23600 | Buy 23600 CE |
| 23500 – 23600 | High Volatility No Trade Zone |
Why This Strategy?
Nifty closed at 23,416.55 and continues to remain below its 20-DMA, 34-DMA, 50-DMA, 89-DMA and 200-DMA, confirming that the broader market structure remains bearish.
The index has declined nearly 8% during the last three months and trend indicators continue to favor sellers. MACD remains below the signal line while DMI− (33.24) remains significantly above DMI+ (16.55), indicating strong bearish dominance.
RSI at 41.72 remains below the neutral 50 mark while ADX at 20.04 suggests a developing trend environment.
Option chain positioning indicates heavy Put support at 23400 while aggressive Call writing remains concentrated at 23500 and 23600, creating a critical expiry battleground.
Support and Resistance
| Type | Levels |
|---|---|
| Immediate Support | 23376 – 23287 |
| Strong Support | 23158 – 22940 |
| Immediate Resistance | 23505 – 23594 |
| Strong Resistance | 23812 – 24030 |
Key Levels
| Level Type | Price |
|---|---|
| Pivot Zone | 23,376 |
| Downside Trigger | 23,500 |
| Upside Trigger | 23,600 |
| Major Resistance | 23,812 |
| Strong Support | 23,400 |
PCR Analysis Today
| Strike | PCR Interpretation |
|---|---|
| 23350 | Strong Put Support (PCR 2.16) |
| 23400 | Major Put Base (PCR 1.43) |
| 23450 | Neutral Bullish Zone (PCR 1.05) |
| 23500 | Heavy Call Resistance (PCR 0.68) |
| 23550 | Strong Resistance (PCR 0.39) |
| 23600 | Major Call Writing Zone (PCR 0.49) |
| 23650 | Resistance Wall (PCR 0.21) |
Bias: Bearish below 23,600, bullish only above 23,600.
Max Pain Today
| Metric | Level |
|---|---|
| Max Pain Zone | 23,500 – 23,600 |
Intraday Strategy
| Scenario | Expectation | Trade Strategy |
|---|---|---|
| Below 23,500 | Weakness toward 23,376 / 23,158 | PE Buy |
| Below 23,400 | Fresh Selling Pressure | Aggressive PE Buy |
| Above 23,600 | Short Covering Rally | CE Buy |
| 23,500 – 23,600 | Premium Decay Zone | Avoid Fresh Buying |
Technical View Today
| Indicator | Signal |
|---|---|
| Momentum | Bearish Continuation |
| ADX | 20.04, trend developing |
| MACD | Negative |
| RSI | 41.72, weak |
| Moving Averages | Fully bearish structure |
| Stochastics | Mild recovery attempt |
| ATR | 309, elevated volatility |
| Bollinger Bands | Near lower half of range |
Trading Meaning
Nifty remains under pressure as it trades below all major moving averages. While short-covering rallies may emerge intermittently, the broader trend remains negative until key resistance zones are reclaimed.
Option chain data clearly shows that Put writers are defending the 23400 zone aggressively, while Call writers continue to build positions at 23500–23650. This indicates that market participants remain cautious on the upside.
A decisive breakout above 23600 is required before a meaningful recovery can begin.
Pro-Level Upgrade (What Big Players Do)
• Institutions are aggressively defending the 23400 Put base.
• Maximum Call writing remains concentrated between 23500 and 23650.
• Smart money is treating 23500–23600 as the key expiry decision zone.
• Professional traders avoid aggressive option buying inside this range due to rapid premium erosion.
• Fresh bearish positions are generally initiated below 23500.
• Long exposure increases only after a sustained breakout above 23600.
Final Nifty Outlook Today
👉 Below 23,500: Weakness may extend toward 23,376–23,158
👉 Below 23,400: Selling pressure may intensify toward 23,158–22,940
👉 Above 23,600: Short-covering rally may emerge toward 23,812–24,030
👉 Above 23,812: Momentum can accelerate toward 24,248
👉 Between 23,500–23,600: Premium decay highly likely; avoid overtrading
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