Nifty on Profit Booking Mindset

What Happened Yesterday (23/10/2025)

1.The market opened with a 180-point gap up due to Trump’s positive comments about Indian tariffs.
2.From near the all-time high of 26,104, the market started falling and closed the day at 25,891.
3.It formed a big red candle after many bullish sessions, but still ended with a marginal gain of 30 points.

What Happened Today (24/10/2025)

1. The market showed a 35-point positive pre-open, but the gains were quickly wiped out after the open.
2. The market continued yesterday’s downtrend, making lower lows throughout the session.
3. From 25,900, it dropped to 25,720 but recovered slightly to close at 25,795.
4. On the daily chart, a bearish candle formed with a lower wick.
5. On the weekly chart, the candle pattern resembles an evening star, indicating negative sentiment.

Yesterday, I had taken a 25,800 short straddle with a total premium of 300 points. Today, the premium decayed by 110 points, ending around 185 points.

Next Day Possibilities (October 27, 2025)

1. Selling pressure has continued from 26,100, but the market seems to have found support near 25,720.
2. The market is expected to remain range-bound between 25,900 and 25,700 on Monday (in the absence of major news).
3. On a weekly basis, the possible trading range is 25,500 to 26,000.