Chapter 1: Opening Zone

Nifty opened flat at 25,089 and traded in a tight range throughout the
day, hitting a high of 25,245, a low of 25,088, and closing at 25,217.
The market showed signs of indecision, creating a choppy intraday
structure.

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Chapter 2: Early Movement and Market Behavior

The market started on a mildly positive note with a delta of +332 and
delta percentage of +13.16%, accompanied by a positive COT (Commitment
of Trades). However, this positivity was short-lived as the market
began to fall but found support at the previous day’s volume POC.

Between 9:30 to 10:30 AM, a tug-of-war was observed between buyers and
sellers, lacking a clear directional bias. At 10:35 AM, buying
strength increased with a positive delta of 55%, and Nifty crossed the
previous POC. However, resistance at 25 June’s volume POC capped the
upside. The market was rejected from that level and again saw upward
movement only during the last 10 minutes of the session.

Nifty is now stuck between 25,250 (resistance) and 25,100 (support).
Unless one of these levels breaks decisively, we expect similar choppy
behavior.

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Chapter 3: Open Interest Sentiment and Max Pain

Open interest data continues to show a bearish bias:

Call OI high at 25,200

Put OI high at 25,000

Put Call Ratio (PCR): 0.7, indicating seller dominance.

VIX dropped by 4.53%, favoring option sellers.

Max Pain level: 25,200

Max Pain, also known as Option Pain, is the price point where the most
number of option buyers (call & put) lose money, and sellers gain.
Since sellers were active due to Sensex expiry, they drove prices near
the Max Pain levels.( Green is call OI, red is put OI)

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Chapter 4: Seller Dominance and Strategy Insights

Today was a good day for short straddle sellers at 25,200 as the
market closed near this level. Additionally, traders using call ratio
spreads (1:2 or 1:4 depending on premium) benefited during the
low-volatility sideways movement.

If the market breaks either side of the 25,100 – 25,250 range
tomorrow, we may see directional moves. Until then, option selling
strategies like short straddle or short strangle remain effective due
to theta decay.

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Chapter 5: Sectoral Movement

All sectoral indices closed in the green. Notably:

Auto was the top gainer.

This sectoral strength hints at potential rotation from defensives to cyclicals.

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Chapter 6: Key Global News Impacting Indian Markets

EU vs. US Tariff War Intensifies

The European Union is considering imposing tariffs on US products as
retaliation for trade and policy tensions, including the US’s stance
against BRICS and China’s alignment.

Global Impact:

Risk of disrupted supply chains.

Deterioration in investor sentiment.

Safe haven demand might strengthen USD and gold.

Increased volatility in equity and currency markets.

Impact on India:

Export Substitution Opportunities: Indian exporters (IT, pharma, agri,
precision manufacturing) could benefit if EU reduces US imports.

Market Volatility: Risk-off mood could cause short-term declines in
Indian indices.

Currency & Crude: INR may weaken; reduced crude prices might help India.

Sector-Wise Opportunities for India:

SectorImpactReason
IT & Software PositiveEU may increase outsourcing from India
Pharma  PositiveGenerics sourcing from India can rise
Textiles  Mild PositiveCost-effective export base
Auto Components  NeutralSlight risk if supply chains shift
Metals/Mining  NegativeSensitive to global demand slowdown
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Chapter 7: Things to Watch for Tomorrow

Gift Nifty movement overnight

US & EU tariff announcements

VIX behavior: A spike would favor buyers; a dip benefits sellers.

Indian CPI Inflation data (if released) could impact rates and sentiment

Watch for any large FII inflow or outflow data at market open.

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Summary

15 July was a choppy but important day, as the market consolidated
with light buying interest, while macro tensions globally are rising.
Until a breakout from the 25,100–25,250 range, expect theta-based
selling strategies to dominate. Keep your eyes on global cues — they
might decide the next breakout direction.