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Informist, Wednesday, May 20, 2026

 

By Simran Rede

 

MUMBAI – Traders added long bets to the options chain of the Nifty 50 after the index recovered from a fall earlier in the day and closed slightly higher, supported by energy stocks. These stocks rose as crude oil prices moderated from the intraday highs to come below the $110 per-barrel mark. Premiums on some contracts expiring Tuesday rose while those across put options fell, suggesting that the index could rise some more Thursday.

 

The Nifty 50 closed 0.2% higher Wednesday at 23659 points. The BSE Sensex also settled 0.2% higher at 75318.39 points. The market was in the red for most part of the day as US President Donald Trump's comment on the possibility of striking Iran again weighed on sentiment. However, a moderation in crude oil prices provided some support and helped the index to end the session slightly higher.

 

The near-term support for the Nifty 50 is seen at 23400 points and it is not likely to fall below this level Thursday. Resistance is seen at 24000 points as per options data and 23950 points according to technical charts, Vipin Kumaar, senior technical and derivatives analyst at Globe Capital Market, said.

 

There was selling across strikes on the put side, with the 22500 strike seeing the maximum concentration of open interest at nearly 2 million. The premium on this contract also plunged nearly 37%. The maximum addition of open interest was at the 23400-point put contract with its premium falling over 32%.

 

Premiums on 23500-23900 call options expiring May 26, which are close to the spot level, rose 9-14%, but those on 24500-25000 call contracts declined 13-30%, suggesting a limited rise in the index. The 24500-point call saw the highest addition and maximum concentration of open interest.

 

Global crude oil prices remained below $110 per barrel Wednesday after climbing above that level for the past two sessions. At 1707 IST, the Brent crude oil July futures contract on the Intercontinental Exchange was down 2.4% at $108.64 per barrel. The fall in crude oil prices eased some worries of traders and saw the Indian and European markets rising.

 

--Nifty 50 May closed at 23695.00, up 83.00 points; 36.00-point premium to the spot index

--Nifty 50 June closed at 23776.80, up 75.60 points; 117.80-point premium to the spot index

--Nifty 50 July closed at 23875.40, up 79.20 points; 216.40-point premium to the spot index

 

HDFC Bank, Reliance Industries, ICICI Bank, Infosys, Bharat Heavy Electricals, Grasim Industries, Bharti Airtel, and State Bank of India were the most actively traded underlying stocks Wednesday.  End

 

US$1 = INR 96.82

 

Edited by Rajeev Pai

 

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