Trade setup for Sept 3: NIFTY50 faces selling pressure at 24,750, will it bounce back on Wednesday?

GIFT NIFTY futures indicate a 30-point gap down opening for NIFTY50 on Wednesday amid weak global cues. The options data indicate a trading range of 24,500 to 25,000 for the coming weekly expiry. On the technical front, the index failed to close above 24,750 on Tuesday. NIFTY50 Max call OI:25,000 Max put OI:24,500 (Ten strikes to ATM, 09 Sep expiry) Indian markets are expected to open in the red on Wednesday amid weak global cues, as US markets fell up to 1% on Tuesday. Rising long-term bond yields across the US and UK aggravated investor concerns over financial stability in the Western economies. On the domestic front, NIFTY50 failed to carry forward the bounce back on Tuesday as the index faced selling pressure at higher levels on the expiry day. On the technical front, the index failed to cross the 20 SMA levels of 24,750, indicating a sustained bearish trend in the index. Experts believe, bears are in control of the momentum until the index crosses 25,000 on a weekly basis. Nifty50\_2025-09-03\_07-52-55.png On the options data front, the initial open interest buildup for 09 Sept expiry indicates crucial resistance of 25,000 with the highest open interest on the call side. Similarly, a crucial support at 24,500 with the highest open interest on the downside. nifty03sept.png Stock Scanner Long buildup: - Tata Consumer Short buildup: - M\&M, Dr Reddy Top traded futures contracts: HDFC Bank, Reliance Top traded options contracts: Reliance 1430 CE, HDFC Bank 1000 CE F\&O securities under ban: NIL F\&O securities out of the ban: NIL To access a specially curated smartlist of the most traded and active stocks, as well as the OI gainers and losers, simply log in: https://pro.upstox.com/ ➡️F\&O➡️Options smartlist/Futures smartlist In Futures and Options or F\&O, long build-up means an increase in Open Interest (OI) along with a price increase, and short build-up means an increase in Open Interest(OI) along with a price decrease. Source: Upstox and NSE. Disclaimer: Derivatives trading must be done only by traders who fully understand the risks associated with them and strictly apply risk mechanisms like stop-losses. The information is only for consumption by the client, and such material should not be redistributed. We do not recommend any particular stock, securities or strategies for trading. The securities quoted are exemplary and are not recommended. The stock names mentioned in this article are purely for showing how to do analysis.