📈 Today’s Market Performance
As anticipated in yesterday’s analysis, Nifty 50 was strongly bullish today, forming a convincing bullish candle.
- Opening: Nifty opened at 22,073 and quickly surged to 22,190 within the first 15 minutes.
- High: The early momentum continued, pushing Nifty to an intraday high of 22,394.
- Mid-session Reversal: Around 12:30 PM, an inverted hammer formed at the top, signaling a possible downside move. The next 15-minute candle confirmed weakness, leading to a dip toward 22,300.
- Support and Close: Nifty found strong support at 22,300, rebounding to close near 22,350, a positive sign for the market.
- Options Insight: Option premiums remained low but offered high percentage returns, benefiting intraday traders.
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| Nifty Intraday strategy chart with key levels for tomorrow |
🔎 Open Interest (OI) Analysis for March 6 Expiry
- Call Writers (CE): CE writers seemed panicked, exiting positions at multiple strike prices.
- Put Writers (PE): PE writers remained confident, increasing positions at key levels.
📊 Key Levels for Tomorrow:
✅ Immediate Support: 22,300 (66 lakh PE OI)
🚨 Immediate Resistance: 22,400 (70 lakh CE OI)
⏳ Note: Tomorrow is the weekly expiry, which could lead to increased volatility.
📊 Sector Analysis
🚀 Broad Market Rally:
- Almost every sector witnessed strong buying today.
- Small-cap & Mid-cap indices surged over 3%, indicating renewed investor confidence.
- PSU Bank Index also jumped 3%, continuing its bullish momentum.
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| Market performance with all important sectors. |
📌 Key Trading Lesson from Today’s Market
✔️ Market trends can change anytime – A bullish or bearish trend doesn’t last forever in intraday trading.
✔️ Intraday trend ≠ Overall market trend – Always use the 15-minute and 1-hour timeframes for price action confirmation before taking trades.
📈 Nifty Predictions for Tomorrow (March 6, 2025 – Expiry Day)
🔹 If Nifty crosses and sustains above 22,425, we may see further upside toward 22,525 and 22,750 due to short-covering.
🔹 However, if Nifty fails to hold 22,275, it could drop to 22,050 due to profit booking and global factors.
⚡ Overall Expectation: A highly volatile expiry day with multiple opportunities for intraday traders!
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