Intraday Key Levels for Nifty Options

This indicator plots option-derived intraday key levels for NIFTY options, including Breakout Point (BOP), Breakdown Point (BDP), Previous Day Close (PDC), and Previous Day High (PDH).

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