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Informist, Monday, Jul. 13, 2026

 

By Eshitva Prakash

 

MUMBAI – Traders have not taken decisive long or short positions as they await the June quarter results before making big bets. The resumption of the war in West Asia has added to investor pessimism, with many waiting to see whether these hostilities escalate into a full-scale war or whether a resolution between the warring parties can be reached. 

 

Monday, the Nifty 50 ended at 24211 points, almost unchanged from Friday. Iran has responded to fresh strikes by US forces with its own retaliatory attacks on US military bases in several Gulf countries. At 1617 IST, the Brent crude oil September futures contract was up over 3% from its previous close at $78.43 per barrel.

 

"Put writing was seen at multiple strikes alongside some additions at out-of-the-money strikes. Maximum positions are at 24000 PE (put) and 24500 CE (call), closely followed by 24300 CE (call), implying support around the 24000-23960 spot zone and resistance around the 24300-24330 spot zone," Vipin Kumar, assistant vice-president at Globe Capital Market, said. "PCR (Put-call ratio) for current week expiry is around 1.60, indicating slightly overbought positions," he added. Kumar advises investors to adopt a buy-on-dips trading approach, considering the current positions. He expects the Nifty 50 to close around 24000-24330 spot levels Tuesday. 

 

Traders sold put options, expiring Tuesday, across strike prices. The open interest on the 24000 put option rose by over 9 million contracts to 19.79 million, which was the highest open interest addition Tuesday. The premium on the put contract fell by over 20%. There was a heavy buildup in open interest and a decline in premium across the 24000-24200 put options, indicating that traders expect limited downside for the 50-stock index from current levels. 

 

Traders also sold call options expiring Tuesday. Call contracts with 24300-24500 strike prices faced the highest selling pressure and the largest open interest build-up, with premiums across these strike prices declining 24–62%. Far-out-of-the-money call contracts were not spared either, with premiums across the 24600-24800 strike prices declining by 62-70%.

 

At-the-money call options and some out-of-the-money strike prices for contracts expiring Jul. 21 saw decent buying. Traders purchased call options at strike prices of 24300–24600. However, they also bought put options at the 24000 and 24200 strike prices and sold deep-out-of-the-money contracts for the Jul. 21 expiry, indicating that many expect this range-bound movement to continue for another week. 

 

Traders took long positions in the Nifty Bank index. Premiums of 58500-60000 strike prices rose 10-15% to INR 135–INR 619 amid heavy buying interest and short covering. A rise to 60000 would imply an upside of over 3% from the sectoral index's spot level of 58131.45 points. 

 

--Nifty 50 July closed at 24249.00, up 7.10 points; 38-point premium to the spot index

--Nifty 50 August closed at 24348.00, up 19.30 points; 137-point premium to the spot index

--Nifty 50 September closed at 24488.70, up 15.20 points; 277.7-point premium to the spot index

 

Tata Consultancy Services, Kalyan Jewellers India, Infosys, HDFC Bank, HCL Technologies, ICICI Bank, Avenue Supermarts, LTM, Bajaj Auto, and Biocon were the most actively traded underlying stocks Monday.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Saji George Titus

 

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