BUY : NIFTY11NOV2525600PE( NIFTY ) [40114]

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Stock/Recommendation Name: NIFTY11NOV2525600PE (NIFTY) [40114]
Call Type: BUY
Entry Range: ₹148
Stop Loss: ₹98
Target 1: ₹198
Target 2: ₹248
Duration: 0–7 Days
Upside Potential: 50

Technical Rationale — NIFTY11NOV2525600PE (NIFTY)

View: Bullish on Put Option (Bearish on Nifty Index)

Chart and Price Action Analysis:
Nifty has shown visible signs of exhaustion near the 26,000–26,100 resistance zone, where it has faced multiple rejections over the past few sessions. The index has formed a double-top pattern on the hourly chart with neckline support around 25,850.
A decisive break below this neckline indicates short-term weakness, favoring a corrective move toward 25,600–25,500 levels in the coming sessions.

Momentum Indicators:

• RSI (14) has turned down from the 65 zone and is currently below 50, confirming loss of bullish momentum.

• MACD has generated a bearish crossover on the hourly chart with widening histogram bars, indicating strengthening downside momentum.

• Volume profile shows strong call writing near 25,900–26,000 strikes, which could act as a resistance ceiling for this expiry.

Trend and Derivative Structure:

• Price is trading below VWAP, indicating short-term weakness in intraday structure.

• PCR (Put-Call Ratio) has dropped below 1.0, confirming that call writers are more active.

• Open Interest data shows fresh addition in 25,600 PE and unwinding in 26,000 CE — a bearish confirmation.

Trade Setup Summary:

Conclusion:
The Nifty index is showing signs of near-term distribution and technical weakness from higher levels. A sustained move below 25,850 could extend the decline toward 25,600, favoring a bullish move in 25600PE.
Buying NIFTY11NOV2525600PE around ₹148 with stop-loss at ₹98 and targets of ₹198–₹248 is technically justified based on price structure, momentum, and derivative confirmation.

RA Name: Manjushri Sharma

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