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Informist, Tuesday, Jul. 1, 2025

By Anshul Choudhary

MUMBAI – Traders continued to sell put options as bullish sentiment in the market is likely to push the Nifty 50 either higher or keep it in a range despite sharp gains over the past few months. Analysts are not expecting any sharp fall in the market and the index is likely to find support around 25500 points, options data showed.

The Nifty 50 has risen over 15% in the past four months on hope of trade deal with the US and better domestic earnings in the second half of this financial year. Analysts expect consumption to improve in the coming quarters on the back of tax relief and lower interest rates.

On Tuesday, the Nifty 50 ended slightly higher at 25541.80 points. While the index ended slightly higher, it faced selling pressure at higher levels near 25550-25600 points.

Due to possibility of profit booking, traders largely sold out-of-the-money and at-the-money call options expiring Thursday. However, they continued buying in-the-money calls below 25300 strike prices. The highest open interest addition was seen at 25550-25600 calls options, indicating expectations of profit booking at higher levels.

On the put side, the highest open interest addition was seen at 25400-25500 strike prices, indicating strong support for the Nifty 50 at these levels. "For the short term, support is seen at 25,500; a decisive fall below this level might trigger long unwinding in the market," said Rupak De, senior technical analyst at LKP Securities, in a note.

Futures data shows traders added long positions with June contracts of the Nifty 50 rising 0.1%, and open interest 1.6% to 14.65 million. Nifty 50 June contract closed at a premium of 96.20 points to the spot index.

--Nifty 50 Jul closed at 25638.00, up 23.80 points; 96.20-point premium to the spot index

--Nifty 50 Aug closed at 25760.00, up 26.10 points; 218.20-point premium to the spot index

--Nifty 50 Sep closed at 25907.00, up 26.60 points; 365.20-point premium to the spot index

Bharat Electronics, Dixon Technolgoies, Reliance Industries, State Bank of India, ICICI Bank, Apollo Hospitals Enterprise, Axis Bank, HDFC Bank, Hindustan Aeronautics, IDFC First Bank, Infosys, IndusInd Bank, Tata Consultancy Services, Multi-Commodity Exchange of India, and BSE were the most active underlying stocks Tuesday.  End

Edited by Akul Nishant Akhoury

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