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Informist, Thursday, Jul. 31, 2025
By Akash Mandal
MUMBAI – News of higher US tariffs had a limited impact on the market Thursday, which raised hopes among analysts that the Nifty 50 may rise in the coming sessions. However, options data showed a sharp rise is unlikely as traders added short positions at out-of-the-money call options.
Analysts expect the Nifty 50 to move in a narrow range next week as the Indian government continues to negotiate with the US for better trade terms. On Wednesday, US President Donald Trump announced a 25% tariff on imports from India and a penalty, which will come into effect Friday.
The Nifty 50 Thursday opened around 2% lower weighed down by the higher-than-expected US tariff announcement but turned around midway through the session and rose close to the 25000 level as media outlets reported that the Indian government is pushing ahead with negotiations despite the harsh terms. The index eventually settled nearly 87 points lower at 24768.35 points amid volatility due to the monthly expiry of the Nifty 50's derivatives contract. The market's reaction Thursday showed that investors are still hopeful of better trade terms with the US, said Ajit Mishra, senior vice-president of technical research, at Religare Broking.
On the call side, traders added short bets on the 24800-25700 strikes, with the maximum additions being at the 25000 and 25500 strike prices. The maximum open interest was also at the 25000 strike price, implying that traders see a roughly 200-point upside in the near-term before it faces resistance.
On the put side, traders bought out-of-the-money strike prices of 24000-24750, with the maximum open interest at the 24000 strike price. "Honestly, the range for now is between 24000-25000 now, which is pretty wide...its the start of a new contract, and the range will narrow through the week," Mishra said. He sees the Nifty 50 taking support at 24450-24500 levels and face resistance at 25000-25200 points. "25000 (for the Nifty 50) looks possible...today also we saw the Nifty rise to those levels. With a bit of push from heavyweights, the Nifty might regain 25000," Mishra said.
--Nifty 50 Jul closed at 24766.80, down 102.50 points; 1.55-point premium to the spot index
--Nifty 50 Aug closed at 24868.50, down 90.60 points; 100.15-point premium to the spot index
--Nifty 50 Sep closed at 25011.10, down 86.00 points; 242.75-point premium to the spot index
HDFC Bank, Reliance Industries, Infosys, ICICI Bank, State Bank of India, Tata Consultancy Services, Hindustan Unilever, Kotak Mahindra Bank, InterGlobe Aviation, RBL Bank, Bajaj Finance, Mahindra & Mahindra, Sun Pharmaceutical Industries, Jio Financial Services, and Tata Motors were the most active underlying stocks Thursday. End
Edited by Ashish Shirke
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