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Informist, Monday, Jun. 22, 2026

 

By Simran Rede

 

 

MUMBAI – As the index maintained its positive momentum despite the fresh escalation in the West Asia war, traders continued to show some caution in the options chain of Nifty 50 derivatives. They wrote call as well as put options across multiple strikes, refraining from adding some concrete bets given the global uncertainty. Tuesday, the Nifty 50 is likely to be rangebound with some volatility due to the expiry of the weekly derivatives contract.

 

The 50-stock index logged some gains Monday as technical and derivatives analysts had expected on Friday. However, the index moved in a thin range of less than 100 points, indicating that there was still caution among investors due to the fresh attacks in the West Asia. Monday, the Nifty 50 ended at 24102.90 points, up 0.4% from Friday's close. The BSE Sensex closed 0.4% higher at 77094.07 points.

 

The discussions in Switzerland raised hopes of a formal peace framework and the reopening of the Strait of Hormuz, which improved global sentiment and eased concern around energy prices. Fall in crude oil prices to $78.58 Monday supported the rise in Indian equities, analysts said. At 1655 IST, the August futures of Brent crude oil was 1.7% lower at $79.23 on the Intercontinental Exchange. 

 

Top negotiators of Iran left for Tehran from Switzerland after an 18-hour intensive talk aimed at ending the war in West Asia. The US and Iran have made "encouraging progress" on the first day of high-level talks and agreed on "a roadmap for a final deal to be reached within 60 days," mediators said. The optimism around roadmap for a final deal kept the positive bias in Indian equities, analysts said.

 

In the options chain, premiums on deep out-of-the-money call contracts fell more than 50?ch. Premium on 24150 strike fell almost 26% and nearly 7 million short bets were added on this contract. The strike price also saw the maximum addition of open interest, while the highest concentration was at 24200 call. The premium for this strike was relatively lesser and fell 40% with more than 6 million contracts sold.

 

Traders sold out-of-the-money put contracts expiring Tuesday, across the board, with a similar fall in premium at almost all the strike prices, which was more than 60% and less than 100%. They sold their positions on the put side at strike prices such as 24000 and 23800. This indicates that the headline index is unlikely to see a steeper fall, in case it declines Tuesday. The highest addition of open interest was seen at the 24100-strike put and the maximum concentration of open interest was at the 24000 put.

 

Tuesday, an upmove in the Nifty 50 is expected with a "buy-on-dips" strategy, according to technical analysts. "The intraday market texture is non directional hence level based trading would be the ideal strategy for the day traders," Shrikant Chouhan, head of equity research at Kotak Securities, said in a note.

 

The expiry of the derivatives contract of the Nifty 50 index is seen between 24000 and 24150 points, said Vipin Kumar, technical and derivatives analyst at Globe Capital Market. Tuesday, the rise of the index is likely to be limited to 24200-24300 points and any fall may be confined to 24000-23900 points, according to technical analysts. 

 

--Nifty 50 June closed at 24119.90, up 63.00 points; 17.00-point premium to the spot index

--Nifty 50 July closed at 24220.00, up 77.30 points; 117.10-point premium to the spot index

--Nifty 50 August closed at 24330.00, up 68.30 points; 227.10-point premium to the spot index

 

HDFC Bank, Reliance Industries, Infosys, Tata Consultancy Services, Aurobindo Pharma, ICICI Bank, Bharti Airtel, Cochin Shipyard, Dixon Technologies (India), and Amber Enterprises were the most actively traded underlying stocks Monday.  End

 

US$1 = INR 94.68

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

 

Edited by Akul Nishant Akhoury

 

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