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Informist, Tuesday, May 13, 2025

By Anshul Choudhary

MUMBAI – Options data show traders sold call options after the spot market saw profit booking from investors, which led to the Nifty 50 falling 1.4% Tuesday after a nearly 4% rise Monday. Despite profit-booking, analysts remain positive on the market as the Nifty 50 has managed to stay above its support level of 24500 points.

Options data show the Nifty 50 is expected to gain this week with several traders continuing to bet that the index will rise to 25000 points soon. On Tuesday, the Nifty 50 closed at 24578.35 points, down nearly 350 points or 1.4%.

Positive sentiment among investors was driven by two major factors – India and Pakistan agreeing to a ceasefire, and the US and China announcing to lower tariffs against each other. This is likely to keep sentiment positive in the near term, analysts said.

"We expect the index to maintain positive bias and gradually head higher towards 25200–25300 levels in the near term," Bajaj Broking said in a note.

On the call side, the highest open interest addition was seen at 25000 strike prices, followed by 24700-24800 strike prices, indicating expectations of a bounce-back from Tuesday's fall. Analysts expected the Nifty 50 to face resistance at 24800-25000 points this week.

Trading on the put side was slightly mixed with traders selling out-of-the-money puts, indicating expectations of limited downside, while they also reduced their long positions in the in-the-money puts, indicating expectations of limited gains.

The May futures contract of the Nifty 50 closed at a premium of 68.35 points to the spot index. Open interest in the contract fell nearly 1% to 12.56 million, according to provisional data. 

--Nifty 50 May closed at 24646.70, down 397.40 points; 68.35-point premium to the spot index

--Nifty 50 Jun closed at 24765.00, down 385.80 points; 186.65-point premium to the spot index

--Nifty 50 Jul closed at 24905.00, down 370.60 points; 326.65-point premium to the spot index

HDFC Bank, Reliance Industries, ICICI Bank, Infosys, Hindustan Aeronautics, Bharat Electronics, Bharti Airtel, One 97 Communication, State Bank of India, Hero MotoCorp, Bajaj Finance, SRF, and Tata Consultancy Services were the most active underlying stocks Tuesday.  End

Edited by Tanima Banerjee

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