F&O Radar| Deploy Bear Put Spread in Nifty for potential gains from call writers’ market
NSE500 stocks closing in the red.
The IT sector was the only exception, as the selling was widespread across other sectors. The Nifty50 index declined by around 0.90%, ending just above the critical swing low of 24,694 established on October 7th.
Earlier this week, a brief pullback took the index up to the 25,200 level, but a lack of follow-through at higher levels dampened sentiment, leading to renewed selling pressure.
“If the Nifty breaks below the 24,690 swing low, the short-term trend is likely to turn Bearish, potentially driving the index down to the 24,300–24,000 range,” said Sahaj Agrawal, Senior Vice President: Head of Derivatives Research at Kotak Securities.
On the options front, the maximum call concentration stands at the 25,000 strike price, while on the Put side, the maximum open interest concentration is at the 24,700 strike price.
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