Nifty analysis for 2 jan 2026

1️⃣ Market Structure (Pure Price Action – 15-min)

Structure observed: RANGE with recovery from lower support

Sharp sell-off → strong bounce from ~25900

Price moved back inside a defined range

Current candles near 26140–26150 show:

Small bodies

Upper & lower wicks

Overlapping candles

📌 Conclusion:

➡️ Range-bound market after pullback, not a trending day

➡️ No higher high above 26200 yet → no confirmed bullish trend

2️⃣ Major Support & Resistance (Chart + OI Combined)

🔵 Support Zones

Chart swings + Put OI concentration

Level

Reason

26000 – 25980

Strong swing low + highest Put OI

26100 – 26110

Minor intraday demand + Put buildup

25900

Extreme low → reversal base

👉 26000 is the strongest intraday support

🔴 Resistance Zones

Swing highs + Call OI + Call OI addition

Level

Reason

26200

Highest Call OI + fresh Call writing

26250

Call OI addition

26300

Heavy Call OI (ceiling zone)

👉 26200–26250 = Strong supply / option writer zone

3️⃣ OI Concentration & OI Behavior

📊 Overall OI Picture

PCR ≈ 1.13 → Slightly bullish but not aggressive

Call OI added heavily at 26200

Put OI strongest at 26000

Interpretation:

Writers expect NIFTY to remain between 26000–26200

Fresh Call writing near current price = upside capped

No major Put unwinding → downside still protected

4️⃣ Strong Zones (Final)

✅ Strong Support

26000 (Put writers defending hard)

❌ Strong Resistance

26200–26250 (Call writers active)

5️⃣ Intraday Bias (Probability)

Bullish: 35%

Bearish: 25%

Sideways / Range: 40%

📌 Highest probability = Range trading

6️⃣ Best Intraday Trade Setup (Low Risk)

🔹 Preferred Trade: NO TRADE in middle

Retailers get trapped here.

✅ Trade only at extremes

🟢 Setup 1: Buy CALL (Only on Breakout)

Condition: 15-min close above 26210

Entry: 26220 CE

Stop-loss: 26160 (≈ 60 pts)

Targets:

T1: 26280

T2: 26320

📌 Reason: Call writers start covering above 26200

🔴 Setup 2: Buy PUT (From Resistance)

Condition: Rejection candle near 26200–26220

Entry: 26200 PE

Stop-loss: 26260 (≈ 60 pts)

Targets:

T1: 26120

T2: 26050

📌 Reason: Call writing + price rejection

7️⃣ Retailers: Trapped or in Control?

🎯 Retailers are TRAPPED

Buying CE near 26150–26180 thinking breakout

But:

Heavy Call writing at 26200

Price not sustaining above resistance

Result:

Time decay + premium crush

Smart money is selling options, not chasing direction.

8️⃣ Option Writing & Short-Covering Zones

🧱 Option Writing Zones

CALL writing: 26200 → 26250

PUT writing: 26000

🔥 Short Covering Zone

Only above 26220

Until then → upside selling pressure remains

🔚 Final Summary (Blog-Ready)

Market: Range-bound

Range: 26000 – 26200

Best strategy: Sell premium OR trade reversals

Trend trade only if 26200 breaks with volume & close

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