The Nifty index had an eventful session on Tuesday. The day started on a positive note but soon saw the index slipping to the 24,070 level during the initial trading hours. Interestingly, a quick pullback of 170 points followed, showing signs of resilience from the bulls. However, despite the rebound, the Nifty failed to decisively break past the 24,250 zone, and remained slightly under pressure for the rest of the day.
đź“Ś A Doji-like candle was formed on the daily chart, indicating indecision in the market and a tug-of-war between bulls and bears. This pattern usually signals a pause or potential reversal in trend.
What’s worth noting is that Nifty has been forming higher lows consistently for the last eight trading sessions, which reflects an underlying bullish tone. Even with intraday volatility, the trend structure suggests that buyers are active on every dip.
According to technical analysts, the key level to watch now is 24,050. If the index continues to hold above this level, we might see an upward movement towards 24,350, and possibly even 24,500 in the near term.
🔍 Bull Call Spread – A Strategic F&O Move
Given the current market setup, traders looking to benefit from moderate bullishness in Nifty amid volatility can consider deploying a Bull Call Spread strategy. This options strategy involves buying a call option at a lower strike price and simultaneously selling a call option at a higher strike price. It’s ideal when the expectation is for the market to rise, but not significantly.
âś… Why it works now?
The market is showing strength but also struggling to cross higher resistance zones.
A Bull Call Spread limits risk while allowing profit if Nifty moves higher steadily.
It helps navigate the current choppy market conditions with defined risk and reward.
This F&O strategy is particularly useful during phases like this when the Nifty index is trading with positive bias, but facing stiff resistance.
🔚 Final Thoughts
As the market awaits stronger cues, holding above 24,050 remains critical for bullish momentum. For traders, deploying option strategies like the Bull Call Spread could be a smart way to capitalize on the current setup while managing risk.
📉 In volatile markets, strategy beats speed—plan your F&O trades wisely.
