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  1. Trade setup for Aug 4: Will NIFTY50 hold the support of 24,500? here's what options data indicate

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Trade setup for Aug 4: Will NIFTY50 hold the support of 24,500? here's what options data indicate

Upstox

2 min read | Updated on August 04, 2025, 07:53 IST

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SUMMARY

GIFT NIFTY futures indicate a gap-up opening for Indian markets on Monday amid weak global cues. The crude oil prices fell nearly 3% after OPEC+ agreed to increase the oil output. The options data indicates 25,000 calls hold the highest open interest and 24,200 puts hold the highest open interest on the downside.

Stocks to watch

The GIFT NIFTY futures suggest that the NIFTY50 index will open 139 points lower. | Image: Shutterstock

NIFTY50

Max call OI:

Max put OI:

(Ten strikes to ATM, 7 Aug Expiry)

The benchmark indices closed the previous week with over 1% losses on Friday. The NIFTY50 continues to remain under selling pressure at higher levels owing to external and internal factors. Global cues remain uncertain and negative, with US markets closing over 1.5% lower on Friday after weak jobs data.

Nifty50_2025-08-04_07-15-00.png On the technical front, the NIFTY50 continues to remain in a bearish outlook with multiple indicators suggesting weakness in the index. On the daily charts, the index is poised to witness a negative crossover of the 21 EMA crossing the 50 EMA from above. The negative crossover could lead to further pain in the index. On the other hand, the index is also trading at a crucial support zone of 24,500 levels.
nifty04aug.PNG On the options data front, 25,000 calls hold the highest open interest, indicating a strong resistance on the upside. On the other hand, the 24,200 puts hold the highest open interest, indicating support at far-away levels from the spot price. Increased VIX indicates a broad range of expected volatility in the index.

Stock Scanner

Long buildup: Trent, Eicher Motors

Short buildup: - Sun Pharma, Dr Reddy's

Top traded futures contracts: PNB Housing Finance, Hindustan Unilever

Top traded options contracts: Adani Enterprises 2600 CE

F&O securities under ban:PNB Housing

F&O securities out of the ban:

To access a specially curated smartlist of the most traded and active stocks, as well as the OI gainers and losers, simply log in: 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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Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.