Today's market action (Friday, Feb 6, 2026) reflects a significant intraday shift. While the market opened lower due to global cues, a strong post-RBI policy recovery pushed Nifty back into positive territory, settling at 25,693.70.
Based on the latest Open Interest (OI) data, here is a short analysis of the current market structure:
Nifty Option Chain Analysis (Feb 6, 2026)
1. Support and Resistance Zones
Major Support (25,500): This remains the strongest floor for the current series. Massive Put writing at the 25,500 strike was instrumental in preventing a breakdown during today’s intraday volatility.
Immediate Resistance (25,800 - 26,000): The 26,000 strike holds the highest Call OI, acting as a ceiling. However, today’s late-session recovery saw some Call Unwinding at lower strikes (25,600–25,700), which is a classic bullish indicator.
2. Put-Call Ratio (PCR)
The current OI PCR is hovering around 1.11, which is leaning towards a bullish/positive sentiment. A PCR above 1.0 suggests that Put writers are more aggressive than Call writers, indicating confidence that the market will stay above immediate support levels.
3. Institutional Activity & Market Sentiment
Bullish Reversal: The formation of a bullish candle with a long lower shadow on the daily chart confirms buying interest at lower levels (near 25,500).
RBI Policy Impact: The status quo on the repo rate (5.25%) and the neutral stance were taken positively by the market, triggering a late-hour "short covering" rally.
Based on the latest Open Interest (OI) data, here is a short analysis of the current market structure:
Nifty Option Chain Analysis (Feb 6, 2026)
1. Support and Resistance Zones
Major Support (25,500): This remains the strongest floor for the current series. Massive Put writing at the 25,500 strike was instrumental in preventing a breakdown during today’s intraday volatility.
Immediate Resistance (25,800 - 26,000): The 26,000 strike holds the highest Call OI, acting as a ceiling. However, today’s late-session recovery saw some Call Unwinding at lower strikes (25,600–25,700), which is a classic bullish indicator.
2. Put-Call Ratio (PCR)
The current OI PCR is hovering around 1.11, which is leaning towards a bullish/positive sentiment. A PCR above 1.0 suggests that Put writers are more aggressive than Call writers, indicating confidence that the market will stay above immediate support levels.
3. Institutional Activity & Market Sentiment
Bullish Reversal: The formation of a bullish candle with a long lower shadow on the daily chart confirms buying interest at lower levels (near 25,500).
RBI Policy Impact: The status quo on the repo rate (5.25%) and the neutral stance were taken positively by the market, triggering a late-hour "short covering" rally.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.