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Informist, Wednesday, Jan. 21, 2026

 

By Gopika Balasubramanium

 

MUMBAI – Indian equity indices also came under selling pressure, similar to their Asian peers, as traders added short positions across options chain of the Nifty 50. Investors aggressively bought 24600 puts during the session, indicating that the traders likely see the headline index to dive to such levels. 

 

The 50-stock index came under selling pressure due to tariff concerns, induced by renewed tensions between the US and Europe, and also on fall of the rupee to a record low. Derivatives analysts expect the volatility in the benchmark index to continue in the next few sessions.  

 

Call writing was seen at multiple strikes, indicating multiple strikes on the higher side, Vipin Kumaar, assistant vice-president technical and derivatives at Globe Capital Market. Trader positions on the put side indicated that the support for the Nifty 50 would be around 24800-24900 points, Kumaar said. He sees the Nifty 50 to face resistance at 25500 points in the near term.

 

Wednesday, the Nifty 50 closed at 25157.50 points, down 75 points, or 0.3%. The 50-stock index was in the red for the better part of the session. However, the course was largely volatile, owing to currency pressures. The rupee hit a slew of record lows during the session to close at a record closing low of 91.6950 a dollar, depreciating 2% so far in 2026. During the session, the currency fell to 91.7425 a dollar, its lowest ever. 

 

Traders closed their long positions in the January futures contract of Nifty 50. The contract closed at 25190 points, down 69.20 points, or 0.3%. Open interest in the contract fell nearly 4% to 15.90 million. 

 

Addition of open interest in 25500-25200 call expiring next week was the highest, up over 375,000-400,000. Premiums on these call contracts fell the most at 10-19%. The maximum addition of open interest was at 25500 call and the highest concentration was at 26000 call contract.

 

On the put side, traders bought out-of-the-money 24600 put, indicating that traders anticipate a fall to this level. This suggests an over 2?ll from the spot. Premiums at 24600 expiring next week rose 40%. The maximum addition and the highest concentration of open interest was at 24600 put contract.

 

--Nifty 50 January closed at 25190.00, down 69.20 points; 32.50-point premium to the spot index

--Nifty 50 February closed at 25320.00, down 77.90 points; 162.50-point premium to the spot index

--Nifty 50 March closed at 25510.00, down 82.70 points; 352.50-point premium to the spot index

 

HDFC Bank, ICICI Bank, Infosys, Eternal, Reliance Industries, Axis Bank, Tata Consultancy Services, State Bank of India, Bharti Airtel, Bajaj Finance, Kotak Mahindra Bank, Vodafone Idea, Vedanta, Bajaj Auto, Hindustan Zinc, InterGlobe Aviation, AU Small Finance Bank, Ashok Leyland and Persistent Systems were the most actively traded underlying stocks Wednesday.  End

 

Edited by Deepshikha Bhardwaj

 

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