Expiry trade setup: Options data indicates narrow range of 26,000-26,300 for today's expiry

NIFTY50

Max call OI:26,300

Max put OI:26,000

(Ten strikes to ATM, 02 Dec 2025)

NIFTY made another record high on Monday, above 26,300 levels in the opening session; However, the gains fizzled out sooner, and the markets closed flat amid selling pressure at higher levels. The US markets also opened, December on a negative note as concerns over AI valuation intensified, selling pressure.

On the technical front, the index showed signs of consolidation at higher levels, indicating the absence of buying power at higher levels. The downside support remains at the 20 SMA of 25,959 levels on the daily charts.

For today’s expiry, the open interest data indicates 26,300 calls as the crucial resistance with the highest open interest. On the downside, the 26,000 puts hold the highest open interest, indicating strong support for today’s expiry.

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 26,215.

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 26,133 level.

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