Intraday Key Levels for Nifty Options
It is designed to help traders objectively read option strength, weakness, and institutional intraday range behavior.
1️⃣ Breakout Point (BOP)
A break and sustain above BOP indicates bullish acceptance, increasing the probability of the option moving ITM. It is an Option-derived upside acceptance level.
If an option Breaks & sustain above BOP:
- Strike likely moves ITM
- Strong bullish option momentum possibility
- Expansion probability increases
2️⃣ Breakdown Point (BDP)
A break and sustain below BDP indicates bearish acceptance, increasing the probability of the option moving OTM. It is an Option-derived downside acceptance level.
If an option Breaks & sustain below BDP:
- Strike likely moves OTM
- Strong bearish option momentum possibility
- Premium weakness increases
3️⃣ Previous Day Close (PDC)
Displays the previous trading day close of the option. It acts as an intraday sentiment reference and acceptance / rejection level.
Above PDC → positive intraday sentiment
Below PDC → negative intraday sentiment
4️⃣Previous Day High (PDH)
Displays the previous trading day high of the option. It helps to identify the supply / resistance zones, expansion confirmation, failed breakouts and and validates bullish expansion when crossed with strength.
🏦 Institutional Insight:
Institutions may operate within the BOP–BDP range of ATM options when directional momentum is weak, leading to protect their intraday levels and play within the range.
🎯 Best Use Case:
-Intraday NIFTY options analysis
-Directional bias confirmation
-Avoiding low-probability trades
-Used alongside price action and volume tools
⚠️ Disclaimer
For educational purposes only. No buy/sell recommendations
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact VigneshPalanisamy directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Disclaimer
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact VigneshPalanisamy directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.