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  5. Expiry trade setup for Dec 23: Will NIFTY50 hit new record high levels on Tuesday?

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Expiry trade setup for Dec 23: Will NIFTY50 hit new record high levels on Tuesday?

Upstox
By Upstox News Desk

3 min read | Updated on December 23, 2025, 07:53 IST

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SUMMARY

GIFT NIFTY futures point towards a positive start for the NIFTY50 on Tuesday. The global cues remain positive and supportive, while FII buying remains the key trigger for Indian markets in Tuesday's trading session.

buzzing stocks, market, sensex, nifty50

GIFT NIFTY futures traded 50 points higher on Tuesday morning. Image: Shutterstock.

NIFTY 50

Max call OI:26,200

Max put OI:26,100

(Ten strikes to ATM, 23rd Dec expiry)

NIFTY50 advanced sharply by nearly 0.8% on Monday, giving hopes for bulls of hitting new record highs before the year's end. The rally was primarily driven by buoyant global markets and renewed FII buying in the Indian markets. The foreign institutional investors were net buyers in Indian equities on Monday for the worth of ₹3,898 crore, while domestic investors too added ₹4,058 crore worth of equities on Monday.

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The cues for Tuesday remain positive, with overnight gains by the US markets and a positive start by the Asian markets on Tuesday morning. The GIFT NIFTY futures traded 51 points higher at 7:30 am, indicating a positive start for NIFTY50 on the expiry day.

Technical outlook

Nifty50_2025-12-23_07-30-55.png

On the technical front, the NIFTY50 closed above the short-term average of the 20 SMA of 26,000, indicating a reversal in momentum in the NIFTY50. Experts believe a weekly closing above the previous 26,200 resistance could lead the way for new record high levels above 26,300.

Options data

dec23.png

On the options data front, the 26,200 calls hold the highest open interest for today’s expiry, indicating a near-term resistance for NIFTY50. Similarly, 26,100 puts hold the highest open interest, indicating a near-term support for the index.

Expiry outlook

Bullish outlook: Traders with bullish sentiment can execute a long call strategy by buying 26,100 calls. The strategy would turn profitable after the index moves above 26,187.
Bearish outlook: Traders with a bearish outlook can execute a long put strategy by buying a put strike of 26,200. The strategy would turn profitable after the index moves below the 26,120 level.

To access a specially curated smartlist of the most traded and active stocks, as well as the OI gainers and losers, simply visit:

https://pro.upstox.com/ --> F&O --> Options smartlist/Futures smartlist. In Futures and Options or F&O, long build-up means an increase in Open Interest (OI) along with a price increase, and short build-up means an increase in Open Interest(OI) along with a price decrease—source: Upstox and NSE.
Disclaimer: Derivatives trading must be done only by traders who fully understand the risks associated with them and strictly apply risk mechanisms like stop losses. The information is only for consumption by the client, and such material should not be redistributed. We do not recommend any particular stock, securities or strategies for trading. The securities quoted are exemplary and are not recommended. The stock names mentioned in this article are purely for showing how to do analysis
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About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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