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Informist, Thursday, May 29, 2025

By Anshul Choudhary

MUMBAI – Traders covered their short positions in the options market, leading to a rise in the Nifty 50 in the final hour of trading. While traders covered their short bets on the expiry day Thursday, data of next week's expiry show the Nifty 50 is likely to see a range-bound movement Friday and next week.   

For option contracts expiring next week, traders bought in-the-money call options, but sold out-of-the-money calls, indicating indecision among traders. In the past three weeks, the Nifty 50 has moved in a range of 24400-25000 points and bulls and bears are likely waiting for clearer signs to take a call on the market's direction, analysts said. Thursday, the Nifty 50 closed at 24833.60 points, up 0.3%. 

On the call side, the highest open interest addition was seen at strike prices above 26000 level. Significant open interest addition was also seen at 24800-25000 call options. These levels are expected to act as immediate resistance for the Nifty 50.

Some analysts expect the Nifty 50 will soon breach 25000 points and rise to 25200-25300 levels. Traders sold put options across the board, indicating hope of gains in the coming session. The highest open interest addition was seen at 24800 puts, followed by 24400-24500 puts. Analysts expect the Nifty 50 to find support at these levels.

Futures data show traders covered their short positions in May contracts on the expiry day and added long positions in June's contracts. The June futures contract of the Nifty 50 closed at a premium of 131.40 points to the spot index. Open interest in the contract rose nearly 14% to 13.82 million, according to provisional data. 

--Nifty 50 Jun closed at 24965.00, up 104.30 points; 131.40-point premium to the spot index

--Nifty 50 Jul closed at 25106.40, up 110.30 points; 272.80-point premium to the spot index

HDFC Bank, ICICI Bank, Reliance Industries, Bajaj Finance, State Bank of India, Infosys, Bharti Airtel, Kotak Mahindra Bank, Axis Bank, Hindustan Aeronautics, Tata Motors, BSE, Eternal, Larsen & Toubro, Titan Co., and IndusInd Bank were the most active underlying stocks Thursday.  End

Edited by Deepshikha Bhardwaj

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