Trade Set-Up: The global sentiment remains cautiously optimistic. US markets closed slightly positive, while Asian peers are trading mixed. Bond yields are stable, suggesting no immediate panic trigger. However, there is no aggressive buying interest visible ahead of the Union Budget.

Options positioning and rollover data indicate hesitation rather than conviction.

Key intraday levels for Nifty and Bank Nifty based on options positioning.

Options Data Analysis

NIFTY

• PCR has slipped to 0.84, while Bank Nifty PCR stands at 0.87, indicating weak hands already exited

• Massive call writing at 25300 & 25500, creating a strong ceiling

• Sellers are betting Nifty will struggle to cross 25400 before the Budget

• Strong base at 25000; if this breaks, next major support lies near 24800

BANK NIFTY

• Heavy call supply remains around 60000

• Buyers are attempting to defend the 58000 zone

• Sustaining below 58280 keeps the structure weak

• Below 58000, the final line of defense shifts towards 57850

Market Structure & Strategy

• Rollover data shows ~69% rollover in both Nifty and Bank Nifty, highlighting trader hesitation

• Big players remain on the sidelines, waiting for policy clarity

• Any rally towards 25250–25300 is likely to face profit booking

• This is not an environment for aggressive buying

Trading Approach:

• Look for short opportunities near resistance

• Alternatively, wait for a clean reversal near 25000

• Keep position size light due to Budget-related volatility

Disclaimer: We are not a SEBI-registered Research Analyst or Investment Advisor. You are solely responsible for your trading decisions. Always perform your own due diligence or consult a certified financial planner before executing any trade.

Verdict: Range-bound market with a defensive bias. Discipline and capital protection matter more than prediction today.