Nifty Weekly Expiry Today: 24,900 Support, 25,000 Resistance in Focus

The Nifty 50 started the new trading week on a cautious note, slipping below the 25,000 mark during Monday's morning session. The index was trading around 24,932.90, compared with the 24,986.40 level recorded in the previous session's options data.

The market is also witnessing an unusual expiry schedule this week. Nifty's weekly derivatives contracts expire on Monday, November 9, instead of Tuesday, as the National Stock Exchange will remain closed on November 10 on account of Diwali Balipratipada.

The shortened trading window has brought option writers into focus, particularly around the 24,900 and 25,000 strikes. While fresh put additions indicate buying support around lower levels, considerable call writing above the prevailing market price suggests that traders are positioning for resistance near the psychological 25,000 mark.

Nifty Options Chain: What Is the Market Positioning Suggesting?

The latest intraday derivatives data presents a relatively cautious picture, with the Put Call Ratio standing at 0.9100.

A PCR below one indicates that call open interest exceeds put open interest in the measured series. Although this does not independently confirm a bearish trend, it suggests that upside expectations remain restrained.

Interestingly, maximum pain is positioned at 24,900, only around 33 points below the index's morning level. This strike could remain an important reference as the expiry session progresses.

The change in open interest data reveals aggregate call changes of 3,572.48 lakh, compared with put changes of 3,283.26 lakh.

Higher call-side activity suggests that traders are actively positioning around overhead strikes. However, movements in individual strike prices and the unwinding of existing positions will determine whether the index can overcome resistance.

Why Is the 25,000 Level Important for Nifty?

The 25,000 strike has emerged as a critical hurdle for the index, particularly because of the substantial increase in call open interest during Monday's session.

The change in OI chart shows considerable call additions around 24,950 and 25,000, with the latter witnessing one of the strongest concentrations of fresh positioning.

Further call additions are visible at 25,100 and 25,200, suggesting that resistance is spread across multiple higher strikes.

The previous session's overall OI data also showed meaningful call concentrations at 25,000, 25,100 and 25,200, while 25,500 carried the highest visible absolute call open interest.

For the immediate session, 24,950 represents the first hurdle. If Nifty manages to cross this level and sustain above it, buying momentum could carry the index towards 25,000.

However, the concentration of fresh call positions around 25,000 could make a breakout difficult without short covering.

A decisive move beyond 25,000, accompanied by call unwinding, could subsequently bring 25,050 and 25,100 into focus.

Can Put Writers Defend the 24,900 Support Zone?

While call writers appear active at higher strikes, put writers have established sizeable positions around 24,900.

The intraday change in OI chart shows significant put additions at this strike, making it an important support level for the current session.

The 24,950 strike has also witnessed considerable put activity, although the index's movement below this level makes 24,900 the more immediate downside reference.

At lower strikes, put positioning is visible around 24,850 and 24,800. The earlier overall OI snapshot also showed considerable put interest at 24,800 and 24,700.

The significance of 24,900 is further reinforced by the maximum pain reading at the same level.

If Nifty continues trading above 24,900, put writers may remain comfortable maintaining their positions, potentially allowing the index to recover towards 24,950.

However, a sustained decline below 24,900, accompanied by put unwinding, could change the intraday outlook.

In that scenario, 24,850 would become the next level to monitor, followed by 24,800, where existing options positioning may provide additional support.

Nifty Expiry Strategy: Will the Index Break Above 25,000 or Slip Below 24,900?

The latest derivatives positioning suggests that Nifty is approaching an important decision zone ahead of the weekly expiry.

The 24,900 strike remains the immediate downside level, supported by fresh put additions and the maximum pain reading. Meanwhile, call writing around 24,950–25,000 continues to create resistance.

The PCR of 0.91 reflects a cautious undertone, indicating that traders are not aggressively positioning for a strong upward move.

On the upside, a sustained breakout above 24,950 could improve sentiment and encourage a move towards 25,000. If call writers unwind their positions at that strike, Nifty could extend its recovery towards 25,050–25,100.

On the downside, a decisive break below 24,900 could invite further selling pressure, exposing the index to 24,850 and 24,800.

The immediate expiry range is therefore placed at 24,900–25,000, with a broader trading band of 24,800–25,100 if volatility increases.

With weekly options expiring today, traders should closely monitor changes in open interest, price action and potential short covering, as rapid position adjustments could trigger sharp intraday movements in either direction.