last hour to go, price action pushed for a weekly close, successfully breaking and sustaining above the 900 level. This confirms major support on the index, but for today, we’ve seen a clear shift in support and resistance (S/R) levels.
• Calls now face major resistance.
• Puts are hanging on to the last level of support.
Looking ahead to Monday:
• If puts lose support, OTM calls have room to rally toward the 24.6K–24.8K range.
• However, if that support break 23.4K, or even 23.2K, becomes a likely downside — especially with a monthly close below 23.6K on the table.
Conclusion on My Trade Strategy:
My S/R read was accurate — didn’t jump into puts prematurely, though the entry was a bit delayed. Still, call held the final leg and we witnessed a strong 100-point surge in call.
This wasn’t a scalp setup for me. I’ve been watching this level since last Thursday, after exiting my 11 April trade. No new high time frame trade has been taken yet. Will recalibrate based on the above scenario.
Monthly expiry should be interesting,especially with the 8 May follow-up.
NIFTY 
BANKNIFTY
• Calls now face major resistance.
• Puts are hanging on to the last level of support.
Looking ahead to Monday:
• If puts lose support, OTM calls have room to rally toward the 24.6K–24.8K range.
• However, if that support break 23.4K, or even 23.2K, becomes a likely downside — especially with a monthly close below 23.6K on the table.
Conclusion on My Trade Strategy:
My S/R read was accurate — didn’t jump into puts prematurely, though the entry was a bit delayed. Still, call held the final leg and we witnessed a strong 100-point surge in call.
This wasn’t a scalp setup for me. I’ve been watching this level since last Thursday, after exiting my 11 April trade. No new high time frame trade has been taken yet. Will recalibrate based on the above scenario.
Monthly expiry should be interesting,especially with the 8 May follow-up.
NIFTY BANKNIFTY
