Expiry trade setup: Will NIFTY50 cross 25,000 today? here's all you need to know

GIFT NIFTY traded over 80 points higher on Thursday morning, indicating a gap-up opening for Indian markets on Thursday. The global markets rallied on the US trade court ruling against President Trump’s reciprocal tariffs. Following the development, the US stock market futures jumped over 500 points and Asian markets jumped over 1% across the board.

NIFTY50

Max call OI: 25,000

Max put OI: 24,500

NIFTY50 closed in red for the second consecutive session in a range-bound trade on Wednesday. The benchmark index continues to remain in a consolidation mode with a range of 24,500 to 25,000.

On the 15-minute chart, the index trades below the 21- and 50-day EMA levels, indicating potential resistance at higher levels. However, it continues to hold the support trend line at the 24,750 levels, keeping the downside capped. On the daily charts, the index continues to trade in the narrow trading range of 24,600 to 25,100. Experts believe that, breakout and closing above the 25,100 levels could lead to a new leg of a rally towards 25,500. On the downside, 24,500 looks like a strong support zone.

On the options front, 25,000 calls hold the highest open interest, indicating a strong support for today’s expiry and 24,500 puts hold the highest open interest on the downside.

Bullish outlook

Traders with bullish sentiment can execute a long call strategy by buying 24,750 calls. The strategy would turn profitable after the index moves above 23,857.

Bearish outlook

Traders with a bearish outlook can execute a long put strategy by buying a put strike of 24,800. The strategy would turn profitable after the index moves below the 24,665 level.