The Indian stock market benchmark indices, Sensex and Nifty 50, traded with strong gains on Tuesday, 21 April, led by across-the-board buying ahead of the weekly F&O expiry today.
The Sensex was trading 635.21 points, or 0.81%, higher at 79,155.51, while the Nifty 50 was up 166.45 points, or 0.68%, at 24,531.30.
Trent, Bajaj Finance, ICICI Bank, Asian Paints and HCL Technologies were the top gainers in the Nifty 50 pack, while SBI Life Insurance Company, Dr Reddy’s Laboratories, Jio Financial Services, Bharat Electronics (BEL) and Shriram Finance were the top index losers.
Nifty Options Highlights
In the derivatives market, the highest Nifty Open Interest (OI) on the Call side is at the 24,500 strike, followed by 24,300, which could act as resistance levels. On the Put side, the highest OI is at 24,000, followed by 23,800, which may serve as support levels, said Axis Securities.
The premium for the At-the-Money option is ₹592, indicating a likely trading range for the week between 23,600 and 24,900, it added.
Nifty Options Strategy for 28 April 2026 Expiry
Axis Securities has recommended a Bull Call Spread strategy for Nifty options contracts expiring on 28 April 2026, forecasting a moderately bullish view.
Recommended Strategy: Bull Call Spread
A bull call spread strategy involves buying a call option with a strike price slightly lower than the current market price of the underlying asset, which is the Nifty 50. It also includes simultaneously selling another call option with a higher strike price (out-of-the-money), both with the same expiration date. This strategy is applied when the outlook is moderately bullish.
Strategy Details
Buy 1 lot of Nifty 24,350 Call at ₹265 – ₹285
Sell 1 lot of Nifty 24,700 Call at ₹125 – ₹145
The strategy involves buying one lot of the 24,350 strike Call Option and simultaneously selling one lot of the 24,700 strike Call Option.
Risk-Reward Analysis
According to Axis Securities, the maximum potential risk for this Nifty options trading strategy is ₹9,295, whereas the potential maximum reward is ₹13,455.
Traders may consider deploying this spread strategy to achieve moderate returns while maintaining controlled risk and reward, said the brokerage firm. It suggested to enter and exit all the legs in strategy together and square-off the strategy before the expiry session closes.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
