📉 Nifty’s Expiry Day Moves: A Tricky Range-Bound Session
Nifty opened with a gap-down at 23,150, but quickly recovered 100 points in the first hour, reaching 23,280. However, the market remained range-bound (23,250-23,300) throughout the session, making it a tough expiry for option buyers.
The market often defies expectations, running on sentiments and liquidity more than just charts and data. Yesterday’s analysis indicated strength, yet tariff-related uncertainty led to a weak opening. However, buyers stepped in right from the start, proving that market movements aren’t always logical but rather a reaction to broader economic factors and institutional activity.
Now, let’s analyze key levels, technical indicators, and Open Interest (OI) data to plan for tomorrow’s market moves.
_________________________
Market Overview: April3, 2025
| Open | High | Low | Close |
| 23,150.30 | 23,306.50 | 23,145.80 | 23,250.10 |
Nifty Movers
- Top Gainers : Power Grid – (+4.16%), Sun Pharma – (+3.22%)
- Top Looser : HCL Tech – (-4.16%), TCS – (-4.16%)
📊 Market Breadth:
- Advance : 19
- Declines : 24
- Flat : 7 (Changes less that 0.25%)
_________________________
📊 Technical Analysis: Bulls vs. Bears
Price Action & Technical Analysis
Daily Chart:
Inside Bar Formation again – signaling consolidation within 23,150 – 23,350 range.
📌 Crucial resistance: 23,500 – a breakout above this level may fuel bullish momentum.
Hourly Chart:
📌 Falling channel pattern visible, but not reliable for directional bias.
📌 The intraday range of 23,250-23,300 remained unbroken.
RSI (Relative Strength Index)
Daily RSI: Holding above 50, indicating neutral to slightly bullish bias.
Hourly RSI: Finding support at 40, meaning a breakdown is possible but not confirmed.
Open Interest Data Analysis
Key Support & Resistance Levels (Options OI Analysis)
- Strong Resistance: 23,500 CE (47 lakh OI) – Significant call writing indicates sellers’ dominance
- Strong Support: 23,200 PE (41 lakh OI) – Put buyers providing support.
- Crucial Level: 23,300 (40L PE vs 43L CE) – A make-or-break zone for tomorrow
OI Buildups
Mixed signals in OI trends:
- Short buildup in Nifty & Fin Nifty suggests weakness.
- Long buildup in Bank Nifty indicates strength.
- However, expiry effects may distort these figures, so caution is advised.
_________________________
Market Prediction and Trade Plan: Range Breakout
Expectations Based on Analysis:
- Market is consolidating, and the range of 23,150-23,500 remains key.
- Bullish sentiment remains intact, but price action needs confirmation.
- Trade Plan: Look for long trades if the market respects 23,150 support. Watch for a breakout above 23,350 for momentum trades.
💬 What’s your view for tomorrow’s market? Share your thoughts in the comments! 👇
_________________________
🎯 Key Learning from Today’s Market
- Expiry days can be tricky for option buyers – trade less or stick to well-defined ranges.
- A 100+ point first-hour candle often leads to a range-bound day unless a breakout occurs.
_________________________
🚀 Start Your Trading Journey Today!
🔹 Open Your Demat Account with Upstox & Get Full Support!
👉 Open Account Now
📚 Want to Learn Trading?
🎯 Get access to premium courses at attractive prices with UpLearn.
🔗 Explore Trading Courses
💬 Let’s discuss tomorrow’s market! Drop your comments below. ⬇️📢