NIFTY opened with a gap-down of over 50 points and extended the weakness during the first 15 minutes, confirming early selling pressure.
The overall intraday structure remained downward-biased throughout the session, with price forming lower highs and lower lows. Multiple recovery attempts were made during the day, but each bounce lacked follow-through and was sold into, reinforcing the bearish structure.
Around 2:25 PM, volatility increased, likely influenced by Sensex expiry dynamics. A sharp move created a brief V-shaped reaction, but it did not alter the broader intraday downtrend.
Despite the directional bias, the session did not offer clean, high-probability intraday setups from my perspective. Risk–reward remained unfavorable, and structure did not align with my preferred entry criteria.
Trade Decision
No intraday trades were taken.
I continue to hold my 17 Feb 25850 PE, anticipating further downside continuation in line with the prevailing short-term weakness.