Going ahead, 22,500 level remains a significant resistance on the monthly expiry day, but a sustained trade above 22,500-22,550 could trigger further upward movement, potentially driven by contract adjustments.
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Nifty on Monday ended 189 points higher to form a long-legged Doji candle pattern on the daily chart as it managed to move above the initial hurdle at 22,300 levels.
The options data suggests that the trading range for today s expiry is between 19,700 and 20,000. Nifty Put options OI concentration is the highest at 19,500 followed by 19,600 and 19,800 which are likely to act as support with the highest writing at 19,800 and 19,700 strikes.