Nifty is supremely stretched and has made an ingulfing pattern on weekly chart. 22,500 will likely act as a strong resistance and will take some time to be breached. A subsequent lower high can trigger a steep fall up to 22,000.
Option sellers will have started selling 25,500 calls.
Option buyers should be waiting for a lower high before buying puts at likely demand areas.
Mutual fund investors...RIP.